City Council
MEETING DATE: 6/14/2017
TITLE:
Title
Update from the Coachella Valley Economic Partnership's Chief Executive Officer
End
FROM:
Leisa Lukes, Business Development Manager
RECOMMENDATION:
Recommendation
This item is provided for information, discussion and direction only.
Body
BACKGROUND:
Cathedral City is a member city of the Coachella Valley Economic Partnership (CVEP). CVEP prepares an annual Return on Investment/Economic Report and Forecast tailored to each member city. The annual report for Cathedral City is complete and will be presented.
During budget discussions earlier this spring, Council asked for a follow-up study session with CVEP so that the uses and benefits of the funding provided by Cathedral City could be evaluated.
DISCUSSION:
CVEP's website identifies CVEP as a "nonprofit economic vitality organization devoted to attracting, retaining and expanding business and developing a high-skilled workforce to enhance the economy and quality of life of the region." CVEP appreciates Cathedral City's support along with other Valley cities in enabling it to deliver economic development services to current businesses, as well as to start-up innovators and entrepreneurs. These include workshops, seminars, and specialized services that assist individual businesses and economic development staff in various areas such as financing sources for small businesses and radius reports on development sites. Cathedral City is one of three city sponsors of the iHub, which is managed by CVEP and provides an incubator environment for securing innovative start-ups to bring their business opportunities to the Coachella Valley.
Mr. Joe Wallace, CVEP's Chief Executive Officer, will present the annual Return on Investment/Economic Report and Forecast tailored to the City of Cathedral City.
FISCAL IMPACT:
The approved budget includes funding for CVEP from Cathedral City in the amount of $25,000 annually.
ATTACHMENTS:
None.