HomeMy WebLinkAbout2A PresentationTwin Palms Resort
Hotel Incentive Program
1930 South Camino Real
Item 2A - Page 1
1930 South Camino Real
Item 2A - Page 2
Financial Safeguards
■Adjusted TOT
–The amount of TOT to be shared is based on “Adjusted TOT” which the
ordinance defines as 10.9%.
–Actual TOT paid to the City is 11.5%.
–The difference of .6% is not shared
■TOT Increment
–Actual TOT minus TOT Base (past 3-year TOT average)
–City receives entire amount of TOT Base (not included in TOT Increment and not
shared)
–City receives 50% of TOT Increment and Hotel receives 50% of TOT Increment
■TOT received by hotel is capped at amount of investment or 10 years
–City receives 100% of TOT thereafter
Item 2A - Page 3
Flooring, Furniture, Wall Treatments, Bed
Item 2A - Page 4
Reception Area Flooring, Furniture, Paint
Item 2A - Page 5
Amenities Upgrades
Item 2A - Page 6
Furniture, Paint, Windows
Item 2A - Page 7
Exterior Lounge
Item 2A - Page 8
Kitchen Equipment
Item 2A - Page 9