SANTA BARBARA, Calif. -

The annual State of the City address in Santa Barbara revealed the new timeline for a waterfront area hotel that's been years in the planning.  There's also a rosy report card on finance, with the city now out of the red.

The rebound from the recession has occurred in many ways, but tourism and the busy cruise ship schedule has been bringing steady money to city, in a way some other struggling municipalities can't enjoy.

Mayor Helene Schneider told a Chamber of Commerce sponsored event, there's also a local economic stimulus effort underway with plans to cut some of the red tape businesses have to deal with.  She also said last year there was an increase in business license requests.

The city plans to make special videos to help start up and existing businesses get their paperwork in and through the city process quicker.  "We want to be a partner not a barrier. We have to figure out how to cut some of that bureaucracy," said Schneider.

Along the waterfront the city is now counting on a timeline for the Entrada de Santa Barbara project which has been in the works in one form or another for years.

It will be built on the corner of State St. and Mason St.

Construction permits may be issued in the next few months.  

The plan calls for 123 hotel rooms, 264 parking spaces, and 20,000 square feet of new retail.

Asked if it really was going to happen?  "We're hoping, and they have given us every indication that they will stay on schedule," said Schneider.