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City council receives TBID annual report; approves intention to continue 2% assessment and schedules Oct. 21 hearing
Summary
The City Council received the TBID—9s fiscal 2024—625 annual report and voted 5—60 to advance staff recommendations: adopt a resolution of intention to levy the TBID assessment at 2% and schedule a public hearing for Oct. 21.
The San Luis Obispo City Council on Tuesday received the TBID—9s fiscal year 2024–25 annual report and voted 5—60 to move staff recommendations forward: approve the annual report and adopt a resolution of intention to levy and collect the TBID assessment at the same 2% rate, with a public hearing scheduled for the council—9s Oct. 21 meeting.
The TBID presentation summarized marketing and financial results, occupancy and revenue performance, and the district—9s plan for 2025—626. Economic Development staff and TBID board member Prashant Patel presented the report.
Why it matters TBID funds destination marketing paid by lodging operators (a self-assessment of 2% of gross lodging receipts). Staff said the city collected a record $11.4 million in transient-occupancy-tax…
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