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Committee hears first reading of annual tourism-improvement-district assessment; hotels with 110+ rooms assessed 3% of gross revenue
Summary
City staff presented the annual assessment for Tourism Improvement District 1, which would assess hotels with 110 or more rooms at 3% of gross revenue to fund marketing; the first reading was on the calendar and a public hearing was scheduled for July 16.
The committee received a presentation on the annual assessment rule for Tourism Improvement District 1, which assesses hotels and motels inside the city that have 110 rooms or more.
Bindu Abraham of the Finance Department described the assessment as an annual charge on participating hotels: owners of qualifying properties are assessed 3% of gross revenue to fund marketing and visitor attraction efforts. Abraham said the assessment is intended to bring people into the city and that program participants can be the official hotels of events, which can drive business to those properties.
Abraham noted administrative deadlines for property owners who believe they were mistakenly included: objections in writing are due by 5 p.m. on Friday, July 11, and a public hearing is scheduled for July 16. The item was listed for first reading that evening.
Ending: Councilors discussed whether new hotels were being built under the 110-room threshold and whether developers size hotels to avoid assessment zones; no vote was recorded in committee during the transcript.
