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Music Commission: hotel-occupancy collections up, STR reporting to be included quarterly
Summary
Program manager Kim McCarson reported hotel-occupancy-tax collections and a year-over-year 10% increase; Erica Shmali said short-term rental (STR) revenue has been collected into the Live Music Fund and staff will receive quarterly STR breakdowns from convention center budget staff.
Kim McCarson, Program Manager for the Music and Entertainment Division, presented the hotel-occupancy tax collections for the Live Music Fund and said the most recent reporting column totaled $18,002.26 and that the cumulative collections so far total $959,845, which staff said represents about a 10% increase compared with the same point last fiscal year.
After the presentation, Commissioner Price asked whether the reported increase reflects short-term rental (STR) revenue. Erica Shmali answered that STR collections have been included since late last year and that the department is working with convention center/budget staff to obtain quarterly breakdowns that will allow the commission to quantify the STR contribution to the Live Music Fund. "We've talked to the budget people at the convention center about getting a breakdown of what the STR revenue is in comparison to the rest, and they get that report quarterly," Shmali said.
Shmali said staff will be copied on convention center reports and then report back to the commission so members can see how much revenue STRs contributed. Commissioners asked staff to include that data in the next update.
Next steps: staff said they will bring STR revenue breakdowns to future meetings once convention center budget reports are available. The commission did not take a formal action on the collections report.
