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LTAC recommends $55,000 annually from lodging-tax funds to cover marina debt service
Summary
The Lodging Tax Advisory Committee voted to recommend that City Council allocate $55,000 annually from lodging-tax revenues to cover marina debt service for the life of the debt, after staff summarized fund balances and council-directed reconsideration of the item.
The Lodging Tax Advisory Committee unanimously recommended that City Council fund $55,000 annually from lodging-tax revenues to cover the marina’s debt service for the life of the debt.
Staff explained the referral followed an earlier City Council decision to send the marina debt-service item back to LTAC with instructions to fully fund the debt service. A staff presenter said the council is not required to accept the committee’s full list of recommendations and may change amounts, but if it does so it must return the matter to LTAC for reconsideration and the…
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