SR 05:242 - Laserfiche WebLink

Each city will be responsible to collect the assessments from the lodging businesses in that city. The cities will then transmit the funds to Pleasanton. Pleasanton, in mm, will forward the funds to the TVCVB, who will manage the Tourism BID programs pursuant to a contract with Pleasanton. For administering the district on behalf of the CVB, the City of Pleasanton will receive an administrative fee not to exceed 1% of the TVTBID's estimated $1 million budget, or $10,000, in the first year; the City will receive a fee not to exceed lA%, or $5,000, in subsequent years. In addition, annually, each city will receive a BID collection fee to collect assessments from lodging businesses located within each of their cities. The combined total for this collection fee is 1% of the TVTBID's estimated $1 million budget, or $10,000, to be prorated based on the percentage of hotel rooms in each city. As the BID would bring significant revenue to the CVB, this would be an appropriate time for the cities to reduce their current levels of funding to the organization. Each of the four Tri- Valley cities will continue to be members of the CVB at a designated city membership rate of $2,500. The Tri-Valley Convention & Visitors Bureau will begin using assessment funds for operational costs on July 1, 2006. FISCAL IMPACT The fiscal impact to the City could be significant in that the $180,000 currently budgeted for the CVB would no longer be requested by the organization. The City' s annual CVB membership dues would be $2,500. Any staff costs generated by the administration of the assessment district and/or the collection of funds will be offset by the administrative fees received as described in the Management District Plan. ATTACHMENTS 1. Management District Plan 2. Proposed Resolution Requesting Consent c~~Respectfully Submitted, .. '~{/~' ~' ~ l~amela Ott Sue Rossi Nelson Fialho Economic Development Manager Director of Finance City Manager SR:05:242 Page 3