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transmit the funds on a quarterly basis to Pleasanton which, in turn, forwards the funds to Visit Tri-Valley. The cities of Dublin and Livermore, the Town of Danville, 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 1c1/0 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. If there are contingency funds collected, they may be held in a reserve fund or utilized for other program, administration, or renewal costs at the discretion of the VTV Board. 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. For the 2015 renewal, Alameda County consented to future renewals by adopting Resolution No. 2015-64 on March 3, 2015. 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 • A Resolution Requesting Consent of the Cities of Livermore and Dublin, the Town of Danville, and Contra Costa County to Renew the Tri-Valley Tourism Marketing District • A Notice of Public Meeting and Hearing Concerning the Renewal of the Tri-Valley Tourism Marketing District Following adoption of these documents, several actions are scheduled to take place: Month of Cities of Dublin and Livermore, Town of Danville, and Contra Costa February County will consider a Resolution Granting Consent to Renew the Tri- Valley Tourism Marketing District March 15 City of Pleasanton will hold a Public Meeting to allow public testimony on the renewal of the TVTMD and levy of assessments April 19 City of Pleasanton will hold a Public Hearing to introduce an ordinance amending the TVTMD assessment formula May 3 Second reading and adoption of ordinance amending the MMD assessment formula and adoption of the resolution renewing the TVTMD As well, the lodging businesses will be notified by the City of Pleasanton of the intended action and receive notice of the March 15 public meeting to solicit comments of support or protest and the April 19 public hearing to consider introduction of an ordinance amending the assessment formula. As VTV has already received signed petitions representing Page 4 of 5