08 - Laserfiche WebLink

businesses. The Management District Plan details the operational specifications and budget of the proposed district. The current assessment district has been raising approximately $1,520,000 annually from the lodging businesses in the Tri-Valley cities. Visit Tri-Valley estimates that through the renewed district the annual TVTMD budget will be $1,822,000. Of this anticipated $1,822,000 in total district assessments In reference to the possible increase in years four and five — potentially raising the assessment to $3.00 per occupied room night — the VTV 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 up to the $3.00 per occupied room night limit. Any proposed changes would be reported directly to the lodging businesses as well as in the TVTMD annual report. Administration Pleasanton has served as the lead agency in forming the assessment district and administering assessments, and will continue to do so in again renewing the district and administering assessments. Each city and county is responsible for collecting the assessments from the lodging businesses in that jurisdiction. The cities/counties then transmit the funds on a quarterly basis to Pleasanton which, in turn, forwards the funds to Visit Tri-Valley. The cities of Danville, Dublin and Livermore, and the counties of Alameda and Contra Costa, will each be paid a fee equal to 1% of the amount of the assessments collected within their jurisdiction to cover their costs of collection and administration. The City of Pleasanton will be paid a fee equal to 1% of the amount of the assessment collected in the city, plus 1% of the total assessment collected from all jurisdictions to cover the costs of collection and administration. Per the Management District Plan, Visit Tri-Valley will place up to 5% of all Tri-Valley Tourism Marketing District assessments received into a Contingency Fund for future economy uncertainty and renewal costs. If there are contingency funds collected, they will be banked until such time as the total fund reaches an amount equal to six months of operating expenses, (which amount is determined by the VTV board). After that balance is achieved, contingency funds may be reallocated to sales and marketing programming. Process Renewal of the TVTMD requires the participation of each of the four Tri-Valley cities and two counties, through the adoption of resolutions by each. As Pleasanton will continue to serve as the lead agency, to begin the renewal process the Pleasanton City Council will initially adopt: • A Resolution of Intention to Renew the Tri-Valley Tourism Marketing District Page 4 of 6