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San Francisco staff say TID and Moscone Expansion District met benchmarks despite COVID-driven revenue losses
Summary
OEWD told the Board’s Government Audit & Oversight Committee that the Tourism Improvement District and Moscone Expansion District met most benchmark requirements for FY 2019–20, but COVID-19 forced the MED to use reserves and draw on a $5,000,000 line of credit.
Chris Korgas, a program director at the Office of Economic and Workforce Development, presented the FY 2019–20 annual reports for the San Francisco Tourism Improvement District (TID) and the Moscone Expansion District (MED) at the Government Audit & Oversight Committee on Nov. 4, 2021. Korgas noted a clerical correction in the OEWD memo (the assessment rate should read 0.75%) and said OEWD staff will file an amended memo.
OEWD reviews three benchmarks for…
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