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II. WHY A TOURISM BID FOR THE TRI-VALLEY? There are several reasons why now is the right time to form a Tourism BID in the Tri-Valley: 1. City budgets are decreasing The Tfi-Valley Convention & Visitors Bureau has been fortunate to receive uninterrupted funding from the cities of Pleasanton, Livermore, Dublin and San Ramon for a number of years. However, with increased demands for money on local cities from the state and other groups, available resources are dwindling. Additionally, the Tri-Valley CVB's funding has always been supplied from each city's General Fund (not transient occupancy tax money), and the General Fund is the same finite pool of funds cities use to hire additional firefighters, police officers and the like. As they can no longer assure the Tri- Valley CVB the same level of funding, the cities have asked the CVB Board of Directors to seek an aitemative funding source. 2. The need to be more self sufficient in tourism promotion For reasons stated above, the Tri-Valley CVB needs to become more self-reliant when it comes to tourism promotion. In order to continue as a strong organization, the Tri-Valley CVB needs a stable source of funding directly tied to tourism. Forming a Tri-Valley Tourism BID would provide the Tri-Valley CVB a larger, more stable budget base and allow the organization to redirect time previously spent on preparing budgets for the cities, to marketing and promotional activities. This will in turn help create greater occupancy, and therefore, increase potential assessment dollars. 3. Need to improve and build upon existing tourism promotion With the formation of a Tri-Valley Tourism BID the Tri-Valley CVB could increase its resources to help build upon existing tourism promotional efforts. The projected annual assessment would provide the funds necessary to augment the Tri-Valley CVB's sales staff and marketing efforts, both designed to increase business opportunities for Tri- Valley lodging businesses. 4. Opportunity to continue public/private partnership The formation of a Tri-Valley Tourism BID would allow the Tri-Valley CVB to continue its successful public/private partnership between its dues-paying members, assessed lodging businesses, and funding cities. This new funding model would provide many benefits to the Tri-Valley CVB and its partners, while addressing specific needs of its funding cities, making it a win-win proposal for all. Tri-Valley Tourism BID Management District Plan Page 2