Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finance Convention Center topic
No spam. Unsubscribe anytime.
Council moves $663,768 earned revenue for convention center capital work
Summary
The council approved a budget amendment shifting $663,768 of earned revenue from the Community Convention Center into a capital account to fund second-floor renovations and patio work.
The Santa Fe City Council approved a budget amendment to move $663,768 in excess earned revenues from the Community Convention Center into an FY28 building-and-structure capital account for renovations.
Randy Randall, executive director of Tourism Santa Fe, explained the money is earned income from facility rentals, audiovisual services, concessions and equipment rentals rather than gross-receipts tax or lodgers tax. "This is actually earned income by the facility, by the community convention center," Randall said. He told the council the transfer will support renovation of the convention center’s second floor and outside patio.
Councilors asked for clarification about lodgers tax and fund lifespans; Randall and a councilor clarified that lodgers tax dollars have statutory restrictions and a time limit (discussed as a 10-year life of those dollars), and that this particular approval does not draw on lodgers tax.
The motion to approve the budget amendment passed on a roll-call vote.
