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renewed district, including its assessment level and possible increase schedule. It was determined by the VTV board to bring forward a recommendation to renew the assessment district as the Tri-Valley Tourism Marketing District (TVTMD) — to more clearly reflect its purpose — for seven years with an annual assessment rate of $2.00 per occupied room night in years one and two with a possible increase in years three through seven but not to exceed $3.00 per occupied room night. The recommendation also includes the addition of areas of unincorporated Alameda County and Contra Costa County, which includes the communities of Alamo, Blackhawk and Sunol, to allow VTV to promote lodging and tourism amenities. Concurrent with the subcommittee's discussions, the partner cities held discussions to ascertain interest in participation in a renewed district. With the exception of San Ramon, the four other Tri-Valley cities will continue support for the assessment district. The decision to renew the district rests with the lodging businesses within the city limits of Pleasanton, Livermore, Dublin, and Danville and within the designated areas of unincorporated Alameda and Contra Costa Counties. While the original and renewed assessment district only included those lodging properties with 35 or more rooms, this renewal includes all 36 lodging businesses within the identified geographic areas, regardless of number of rooms. The voting strength for each lodging business is determined by the property's number of rooms factored by occupancy rate. Renewal of the tourism assessment district requires a simple majority of 50% + $1 of total district voting strength/annual assessments to be approved. To date, 27 (of 36) lodging businesses representing 85% of the room nights, and therefore 85% of the the estimated total voting strength, are in favor of renewing the Tri-Valley Tourism Marketing District as recommended and have signed a petition agreeing to such renewal of the assessment district; this exceeds the minimum required for approval. Specific to Pleasanton, there are 13 TVTMD lodging businesses located in the city that provide 1,812 of the total 3,783 rooms within the proposed district; 9 of these lodging businesses with 1,552 rooms have signed the petition. Included in the attached documents is a list and map of the lodging establishments that will be within the renewed district and hence be subject to the assessment. Term In accordance with the Property and Business Improvement District Law of 1994 under which the TVTBID was established, the district was formed with a Management District Plan guiding its operations. The TVTBID was originally established in 2006 for a five-year term, and was renewed in 2010 for five years with termination on June 30, 2015. This renewal is proposed to begin on July 1, 2015 and last for seven years through June 30, 2022. Structure/Budget The Tri-Valley Tourism Marketing District will maintain its existing governance structure with the VTV Board of Directors acting as the board of directors for the tourism district; as such, more than half of the voting Board members must represent TVTMD lodging Page 3 of 6