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THE CITY OF 16 [�LEASANTONa CITY COUNCIL AGENDA REPORT June 1, 2010 Economic Development TITLE: ORDINANCE TO RENEW THE TRI- VALLEY TOURISM BUSINESS IMPROVEMENT DISTRICT SUMMARY For the past four years, the Tri- Valley Convention Visitors Bureau has been managing the Tri Valley Tourism Business Improvement District. Over this time, the CVB has come to recognize additional opportunities to engage in tourism promotion and marketing of the Tri Valley but has been constrained by the district's budget. After consideration of options for generating additional revenue, the CVB board has determined that renewing the district with an increase from $1.00 to $2.00 per occupied room night is optimal, as well as comparable with tourism business improvement districts throughout the region and state. This will allow the CVB to extend its efforts while continuing to be self- sustaining. To begin the process of renewing the Tri Valley Tourism Business Improvement District, on April 20, 2010, the City of Pleasanton adopted a Resolution Requesting Consent from the Cities of Dublin, Livermore and San Ramon, and the Town of Danville, to renew the existing TVTBID with the inclusion of the Town of Danville. Concurrently, the City of Pleasanton adopted a Resolution of Intention to renew the business improvement district. The Councils of the Cities of Dublin, Livermore and San Ramon, and the Town of Danville have each adopted Resolutions Granting Consent to the City of Pleasanton to renew the district. As the next procedural step, the City of Pleasanton will hold a public meeting on June 1, 2010 to consider protests to the renewal of the district, and introduce an ordinance to renew the Tri Valley Tourism Business Improvement District. A final hearing would be held on June 15, 2010; and barring any majority protest a second reading of the ordinance would also be held on June 15, 2010. The ordinance would go into effect 30 days thereafter. RECOMMENDATION Introduce an Ordinance to Renew the Tri Valley Tourism Business Improvement District. FINANCIAL STATEMENT There is no significant fiscal impact to the City. The City's Tri Valley Convention Visitors Bureau membership dues will continue at the city membership rate of $2,500 annually. Staff costs generated by the administration of the assessment district and /or the collection of funds will continue to be offset by the administrative fees received as described in the Management District Plan.