HomeMy WebLinkAbout2E - PresentationREVIEW OF
HOTEL OPERATIONS
COVENANT
Lucille Hotel
d/b/a Andalusian Court, LP
Palm Springs City Council
May 14, 2025
Office of Economic Development
9 Keys, guest rooms, exterior, landscaping
$402,708 total in property improvements
Operated as Andalusian Court, LP
458 West Arenas Road
PROJECT OVERVIEW
Improvements
Include
•Conversion of 2 multibed units
into 4 studios (part of the 9)
•Kitchens
•FFE, room interiors
•Bathrooms
IMPROVEMENTS
INCLUDE
•Exterior Paint
•Updated Landscaping
•New Signage
FINANCIAL
SUMMARY
Aggregate project cost must total > $5,000/key
of improvements
Lucille Hotel documented $402,708
($44,705/key); meets base qualification for
participation
Base of TOT calculation $65,716; increment
above that amount is split 50/50 with owner
Reimbursed over 10 years or total of project
costs, whichever is reached first
To achieve total, must earn $80,542 annually in
increment; or $8,949/key/annum additional)