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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 committee then has 45 days to respond.
David Goldman, deputy city administrator and finance director, and LTAC staff provided the committee’s financial overview: as of September the committee had earned roughly $320,000 in lodging-tax receipts; the fund balance through Dec. 11 was approximately $717,000; about $31,500 remained to reimburse 2025 grants; staff projected roughly $45,000 more in receipts between October and December and an estimated $373,000 in lodging-tax revenue for 2026. Staff said the council had approved about $433,000 in new awards, and that recommending $55,000 annually for marina debt service would reduce the projected 2026 fund balance to about $615,000.
Committee members questioned equity and precedent. One member said they were “concerned that the council had fully funded one grantee while others did not receive full funding.” Staff replied that some applications had been submitted as lifetime or debt‑service‑length requests and that alternatives discussed previously included a $25,000 utility‑tax request or taking additional general‑fund steps to avoid raising taxes.
A motion to recommend funding the Marina Debt Service at $55,000 annually for the life of the debt using lodging-tax funds was made by Member (Speaker 2), seconded by Member (Speaker 6), and approved by voice vote. The meeting minutes record a committee voice vote; individual roll‑call votes were not recorded.
Next steps: the committee’s recommendation will go back to City Council for final action. The staff presenter reminded the committee that the multiyear commitment would last for the life of the debt (staff estimated 18–20 years in discussion) and that lodging-tax revenue typically increases over time.
