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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 facilities, infrastructure to support multi-day sporting events), event recruitment, and limited marketing directly tied to inducing hotel room nights. Staff emphasized the additional funds must be segregated, tracked and publicly reported and that administrative costs would be prohibited from the supplemental funds.
TEDcorp and stakeholders said the additional revenue could finance feasibility studies and, if approved by hotel stakeholders, would support projects that increase the city's capacity to host tournaments and multi-day events. Joe Galliardi of TEDcorp described a multistep process: (1) set priorities and feasibility analyses, (2) develop cost estimates and potential bond scenarios if hotel owners agree to extend the assessment term, and (3) move to capital projects if studies justify investment.
Public comments included endorsements from former TEDcorp chair Eileen Reynolds and representatives of local youth-sports organizations who said more fields and event-quality facilities would draw tournaments, overnight stays and business to local hotels and restaurants. Council and staff noted that any bonding or large capital program would require additional approvals and possibly extending the current TBID term; staff said the first phase is focused on studies and an annual spending plan to be publicly presented before committed expenditures.
No council action was taken; a public hearing to advance formal consideration was scheduled for January 27.
