[Council Communication]  [Attachments]

Council Communication

Title:	Study Session Regarding the Allocation of Transient Occupancy Tax Revenues for Cultural and Economic Grants
Dept:	Legal & Finance
Date:	April 7, 2004
Submitted By:	Mike Franell & Lee Tuneberg
Approved By:	Gino Grimaldi, City Administrator

Synopsis:	A study session is being conducted for the ad hoc committee to report back to council the work that has been done regarding options in the amount of monies allocated through the annual budget process for economic and cultural programs. The committee will report on the meetings held and potential for changes in the process for deciding what amount of money is granted to whom for what desired outcomes.
Recommendation:	No action needed as part of the study session.
Fiscal Impact:	No direct fiscal impact is being proposed at this time.
Background:	The ad hoc committee appointed by the Mayor has met many times over the last three months to review the history of the City's allocation of Transient Occupancy Tax revenues to support economic and cultural programs. The impact of recent state legislation regarding the use of such revenue to promote tourism was reviewed and an amount was established by majority vote to be the "base" for future annual expenditures. Applications for potential grantees to complete have not been finalized for distribution awaiting acceptance of the committee's work and a decision on what, if any, changes are approved for the FY 2004-05 budget allocation of these grants.
Attachments:	TOT Attachments: 00 1. A report from the ad hoc committee chair, 2. A report from staff on one possible method of calculating the minimum or base amount to be expended annually on promoting tourism, 3. A draft resolution allocating Transient Occupancy Tax revenues, 4. Minutes and other material from the meetings.

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