TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Scott Agajanian, Economic Development Director
PREPARED BY: Scott Agajanian, Economic Development Director
SUBJECT:
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Transient Occupancy Tax Revenue Sharing Agreement
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RECOMMENDATION
recommendation
Conduct a Public Hearing on the Economic Development Subsidy Report; and
Approve a Transient Occupancy Tax Revenue Sharing Agreement with Safar & Safar Brothers, Inc. for the property located just north of Joan Dunn Lane and East of Antelope Road at Assessor's Parcel Numbers (APN) 384-240-003 and 384-240-004.
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PRIOR ACTION/VOTE
None.
CITY COUNCIL GOAL
Aggressively pursue economic development.
BACKGROUND
The City of Murrieta (City) has identified tourism and leisure opportunities that attract residents and visitors as an Economic Development Goal of the General Plan. One of the supporting policies to meet this goal is to encourage the development of business-oriented hotels that capitalize on the superior freeway locations in Murrieta and the expanding office, professional, and technical job base. Business-oriented hotels provide stronger weekday hotel stays, which create a more stable and prosperous tourism industry. Another goal of the Economic Development Element of the General Plan is to create a sound, stable, and diversified economic base that features healthcare as a core industry, with a policy of promoting Murrieta as a center for medical/health services and technology through active encouragement and recruitment of medical office, medical research, and health care facilities in the City.
These two goals of promoting and encouraging health care services, and also promoting travel and tourism, have found a convergence in medical tourism, which happens when people need to travel for medical care. Murrieta has become a regional hub of healthcare, and individuals travel to the City to have access to healthcare services that are available here. Healthcare provid...
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