Staff explains 15% hotel-tax cap and available performing-arts pool
Finance and staff presented the hotel-occupancy tax rules that cap arts subsidies at 15% of hotel tax revenue, then walked the committee through a calculation showing roughly $461,000 available for performing-arts grants after operating costs and revenues.
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Committee members pressed staff for a clear explanation of how the town arrives at the dollar amount available to subsidize performing-arts grants. Steven (staff) said the cap is statutory: "The maximum investment, is 15% of the total hotel tax that the town generates." He showed a line for total hotel-tax revenue (the 15% cap), operating expenditures for the Addison facility, and theater revenue; these elements together produce the net amount that can be distributed in grants.
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