Frequently Asked Questions...and Answers

IF SINGPOLI BUILDS ITS PROPOSED DEVELOPMENT, HOW MUCH ADDITIONAL MONEY DOES THAT MEAN FOR THE CITY OF WEST COVINA?

 

Singpoli's Chief Financial Officer told the City Council in open session on November 7, 2017 that West Covina could expect $3.6 to $4 million per year in added revenue from their proposed development.

 

West Covina's annual budget is about $120 million.  So Singpoli is saying we can expect about a 3% increase in revenue to West Covina.

 

That’s enough to cover cost of living increases for City personnel and other increased costs for a year or two, at best.

 

Also, this potential added revenue of $3.6 to $4 million per year was just a verbal promise.  Singpoli has not committed in writing to providing any amount of revenue to the City of West Covina.  And no one knows if their proposed hotel would actually have much occupancy until after it's built.  The Pacific Palms Hotel and Resort just south of BKK struggles to maintain hotel occupancy and rooms are available for as little as $149/night.  

 

Furthermore, neighboring cities such as Walnut, Valinda, Covina, City of Industry, and Baldwin Park will not receive revenue from Singpoli, but would still have to deal with the consequences of Singpoli's development (e.g., increased traffic and congestion).

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