SR 05:331 - Laserfiche WebLink

Agreement betW'een the Tri- Valley Convention & Visitors Bureau and the City of Pleasanton to administer the district. After the Council adopted the Resolution of Intention on October 4, 2005 the affected lodging properties "Were sent notice of the intended action and given more than the required 45-day notice of the public hearing set for December 6, 2005. The public hearing "Will solicit comments of support or protest; unless there is a majority protest vote (50% + I), staff recommends the Council introduce an ordinance to establish the Tri-Valley Tourism Business Improvement District. A second reading to adopt the ordinance "Will be heard at the January 3, 2006 Council meeting; should the ordinance be adopted, the TVTBID "Will be effective as of February 2, 2006. The ordinance defines the boundaries of the TVTBID, allo"Ws for the collection of assessments and provides the po"Wer to contract "With a non-profit organization, the Tri-Valley Convention & Visitors Bureau, to carry out the marketing and promotion purposes for "Which the assessments are levied. The agreement defines the roles and responsibilities of the parties in ho"W district services are provided. To ensure there is financial oversight by the four Tri-Valley cities, the agreement specifically requires the CVB to prepare and submit a fiscal year budget, and an annual report, to each of the cities, for each year in "Which assessments are levied and collected. The agreement also requires an annual financial revie"W by an independent Certified Public Accountant. The agreement also specifies that the CVB "Will maintain a complete lodging properties database and accompanying assessment records to accurately reflect the status of the lodging businesses. This is the same relationship that the City of Pleasanton currently has in place for the BID managed by the Pleasanton Do"Wnto"Wn Association. Based on $1.00 per paid occupied room, conservatively estimated at a 60% occupancy rate, the TVTBID "Will raise from the lodging businesses in the four cities approximately $1,000,000 annually for the eVB. Of the anticipated $1 million in total district assessments approximately 35 %, or $350,000 "Would come from lodging businesses in Pleasanton; approximately 27%, or $270,000 "Would come from lodging businesses in Livermore; approximately 12%, or $120,000 "Would come from lodging businesses in Dublin; and approximately 26%, or $260,000 "Would come from lodging businesses in San Ramon. Each city "Will be responsible for collecting the assessments from the lodging businesses in that city; the cities "Will then transmit the funds to Pleasanton. Pleasanton, in tum, "Will for-ward the funds to the CVB, "Who "Will manage the TVTBID programs (pursuant to the above referenced agreement). For administering the district on behalf of the CVB, the City of Pleasanton "Will receive an administrative fee not to exceed I % of the TVTBID's estimated $1 million budget, or $10,000, in the first year; the City "Will receive a fee not to exceed Y:z%, 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. SR:05:331 Page 3