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Council hears TEDcorp proposal to double TBID assessment to fund tournament fields and tourism infrastructure
Summary
City staff and TEDcorp advanced a proposal to increase the Tourism Business Improvement District assessment from 4% to 8% to fund destination-enhancing capital projects and marketing; public comment from TEDcorp and youth-sports stakeholders supported the concept; council took no action and scheduled a public hearing for Jan. 27.
City staff and TEDcorp representatives presented a proposal to modify the Folsom Tourism Business Improvement District assessment to increase the supplemental assessment from 4% to 8%, a change designed to fund physical capital improvements and event recruitment aimed at increasing overnight stays and visitor spending.
The proposal identifies priority uses for the additional funds: destination-enhancing capital projects (sports-field rehabilitation and tournament-quality athletic…
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