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Amendment to PMC Chapter 5.36 As the City previously codified the assessment district in its municipal code, a separate ordinance amending the Pleasanton Municipal Code to reflect the changes to the TVTMD is being introduced to the City Council (Attachment 2). The ordinance notes the specific sections being updated to align the PMC with the TVTMD Management District Plan with respect to the participating agencies and district boundaries — that is, removing San Ramon and including Alameda and Contra Costa Counties — and the per room night assessment. Barring any majority protest, a second reading to adopt the ordinance will be on the City Council's May 19 meeting agenda; if approved, the ordinance would go into effect 30 days thereafter. Agreement to Administer the TVTMD The ordinance also allows for the collection of assessments and provides the power to contract with a non-profit organization — Visit Tri-Valley — to carry out the marketing and promotion purposes for which the assessments are levied. The agreement between the City of Pleasanton and Visit Tri-Valley defines the roles and responsibilities of the parties in how district services are provided. To ensure there is financial oversight by the cities and counties, the agreement specifically requires Visit Tri-Valley to prepare and submit a fiscal year budget and an annual report, to each of the agencies, for each year in which assessments are levied and collected. The agreement also requires an annual financial review by an independent Certified Public Accountant. The agreement specifies Visit Tri- Valley will maintain a complete lodging properties database and accompanying assessment records to accurately reflect the status of the lodging businesses. A draft agreement is presented as Attachment 3. This is the same relationship that the City of Pleasanton currently has in place for the business improvement district managed by the Pleasanton Downtown Association. The term of the renewed district will be seven years— until June 30, 2022 —after which the cities and counties will need to determine whether to again extend the term of the district or to dissolve it. However, because the district is not issuing bonds or will not have other financial obligations, the City of Pleasanton could terminate the district in a 30-day annual window at the request of lodging businesses that pay 50% or more of the assessment, or in cases of misappropriation of funds, malfeasance, or violation of law. �fbmiFis I eview: Approve y: tted mela Of Tina Olson Nelson Fialho ector of Economic Director of Finance City Manager Development ATTACHMENTS 1. Resolution Modifying the Management District Plan of the Tri-Valley Tourism Marketing District 2. Ordinance amending Chapter 5.36 of the PMC regarding the Tri-Valley Tourism Marketing District 3. Agreement between the Tri-Valley Convention & Visitors Bureau and the City of Pleasanton to administer the Tri-Valley Tourism Marketing District Page 4 of 4