Desert Hot Springs is set to move ahead with plans for a music festival that city leaders hope will draw thousands of spectators next year — and one day become a “signature event” for the city.

City Manager Rick Daniels has City Council approval to begin negotiating a contract as high as $250,000 for Tresed Ventures to produce the inaugural World Music and Wellness Festival.

The city hopes the festival will draw as many as 10,000 spectators next year — and provide a welcome economic boost to hotels, restaurants and other retailers.

And city leaders hope that over time it will grow to be an even larger event that is comparable to the Coachella Valley Music and Arts Festival in Indio or the Bob Hope Classic in La Quinta.

“Great events start out as small ideas. I think it has the potential for being that,” Daniels said. “I think the council is clear that they saw this as an investment that we expect to see returns on.”

Developers are eyeing dates in late April or early May, or sometime in September.

The exact details — including the musical lineup, other vendors and a venue — must still be hammered out, though, officials said.

The festival was also not included in the city budget.

The money will instead be pulled from the city's reserve fund, which the City Council discussed this past week.

“I cringe at borrowing from reserves, but I think the potential here is just fantastic, and I support it wholeheartedly,” Mayor Pro Tem Karl Baker said.

Residents and business owners are already buzzing about the festival.

“The opportunities are undeniable, as far as I'm concerned,” said Tony Calsolaro, spa director at Two Bunch Palms Resort and Spa. “It's an opportunity to brand the city.”

Daniels hopes to return to the City Council with the event producer's contract at the Nov. 17 meeting.