City of Palm Springs Retail Lease Incentive Program

In my last post, I mentioned that I was no longer with the Palm Springs Chamber and that I wanted to change the flow of my blogs to help businesses within Palm Springs and those thinking of relocating to our beautiful city. I received some good feedback from readers and a strong positive affirmation that I am heading in the right direction.

This week, I wanted to tell you about the Retail Lease Incentive Program. Within the last few months, the Palm Springs City Council established “Sustainable Economic Recovery” as its priority for the community. Part of this effort is the Commercial -Retail Lease Incentive Program which provides a cash incentive to brokers who produce new leases for businesses that generate Palm Springs sales tax. The pilot program was created to help Palm Springs attract new business and create new jobs. The program eligibility guidelines are:

1. A cash incentive payment will be made to real estate brokers who negotiate a new lease for commercial-retail properties in Palm Springs.

2. The cash incentive payment schedule is as follows:

a.  1 year lease $ 700

b. 2 year lease $1,000

c. 3 year lease $1,500

d. 4 year lease $2,000

e. 5 year lease $2,500

3. The broker receives the cash incentive payment when the following conditions have been met:

a. Certification by the landlord that a new lease for ____ years has been fully executed,

b. proof of the tenant’s Palm Springs business license,

c. proof of franchise tax sales license and

d. the tenant has opened its doors for business.

4. The incentive program applies to new fully executed leases. Renewals or subleases are not eligible.

The Palm Springs City Council has set a current budget of $30,000 for the Commercial Retail Lease Incentive Program. The program is available NOW.

For information or to apply for the cash incentive program please contact Cathy Van Horn, Economic Development Administrator at Community & Economic Development Department at 760-323-8175 or email Cathy Van Horn at ecodev@palmsprings-ca.gov (Tell her John sent you!).

In the next few weeks look for a new Marketing/PR firm to hit the streets of Palm Springs. Afterall, 4 years of making contacts and learning about Palm Springs should not go to waste.
Thanks for reading

 

John Pivinski
johntpivinski@gmail.com
760-641-8709

 

1 comment to City of Palm Springs Retail Lease Incentive Program

  • Beau Barrett

    How is this an incentive for someone to lease a space in PS?
    Again, the incentives are given to anyone but the people. Why isn’t the incentive given to the lessor after a certain period of time at the leased location. They could use the incentive to pay for the autrocious rents in the city. The realtors already make a commission from the lease. the US govt gives all the incentives to banks, car companies, lenders…yet the people get nothing..Congratulations on passing that trend along…