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11. IMPETUS <br /> There are several reasons why now is the right time to renew a TMD in TriValley; the most <br /> compelling reasons are as follows: <br /> 1. The Need to Increase Occupancy <br /> The renewal of the TVTMD is a proactive effort to secure funding for tourism marketing. <br /> The funding will ensure that adequate financing exists for the investment required to <br /> increase occupancy in the lodging industry and be competitive in the tourism market. The <br /> investment will cover an expanded marketing and promotional budget needed to reach this <br /> market segment. <br /> 2. An Opportunity for Increasing City Tax Revenues <br /> As occupancy rates increase, so too will the cities' TOT revenue. With stable public/private <br /> funding for tourism marketing efforts, annual occupancy rates should increase as new <br /> marketing and sales promotion programs are implemented. Greater occupancy will also <br /> produce an increase in sales tax revenues from tourist spending. This represents a <br /> substantial return to the cities. The renewal of the TVTMD in partnership with the VTV <br /> creates a stable funding source tied directly to tourism promotion. <br /> 3. Stable Funding for Tourism Promotion <br /> The TVTMD will provide a stable source of funding for consistent tourism promotion <br /> efforts. The TVTMD will provide funding for tourism promotion free of the political and <br /> economic circumstances that can reduce or eliminate government funding for tourism <br /> promotion. <br /> Management District Plan 5 <br /> April 21, 2015 <br />