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In reference to the possible increase of up to $0.10 in years four and five potentially raising the assessment to $2.10 in year four and $2.20 in year five the CVB board will consider and vote on these increases on an annual basis. No additional voting of the lodging businesses would be required as their approval of the renewal includes the base of $2.00 per occupied room night plus the additional increases of up to $0.10. Any proposed changes would be reported directly to the lodging businesses as well as in the TVTBID annual report. Pleasanton will continue to serve as the lead agency in renewing the district and administering assessments, while each city will remain responsible for collecting the assessments from the lodging businesses in that city. As is done currently, the cities will transmit the funds to Pleasanton which, in turn, forwards the funds to the TVCVB. For administering the district on behalf of the CVB, the City of Pleasanton will receive an administrative fee of up to 1% of the TVTBID's estimated $1,520,000 budget, or $15,200 each year. As well, consistent with the existing district budget, annually each city collects a BID collection fee to collect assessments from lodging businesses located within each of their cities prior to forwarding funds to the City of Pleasanton to collect assessments from lodging businesses located within each of their cities. The combined total for this collection fee is 1% of the TVTBID's estimated $1,520,000 budget, or $15,200, prorated based on the percentage of hotel rooms in each city; Pleasanton's share has been about $5,775. Per the Management District Plan, the CVB will place 5% of all TVTBID assessments received into a Contingency Fund for future economy uncertainty and renewal costs. Process Renewal of the TVTBID requires the participation of each of the five Tri- Valley cities, through the adoption of resolutions by each and an amended ordinance by Pleasanton. As Pleasanton will continue to serve as the lead agency, to begin the renewal process the City Council will initially adopt: A Resolution of Intention to Renew the Tri Valley Tourism Business Improvement District A Resolution of Intention to Modify the Management District Plan of the Tri Valley Tourism Business Improvement District A Resolution Requesting Consent of the Cities of Livermore, Dublin and San Ramon and the Town of Danville to Renew the Tri Valley Tourism Business Improvement District A Notice of Public Hearing Concerning the Renewal of the Tri Valley Tourism Business Improvement District. Following adoption of these documents, several actions are scheduled to take place: Page 5 of 6