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CVB F~NDING PRESENTATION <br /> <br />Opening Statement <br /> <br /> In 1964 Legislation was passed for local jurisdictions <br /> <br />to levy a tax on the privilege of occupying a guest room. <br />The monies raised by this Transient Occupancy Tax were to be <br />used for the promotion of tax-generating travel, tourism and <br />convention activities. Currently in Pleasanton, the money is <br />put in the General Fund, and we must 3ustify our funding each <br />year. Of a total of over 1.5 million dollars collected in <br />T.O.T., the CVB requires only 7% of that to adequately <br />represent the city and continue to help increase the tax <br />base. For an investment of $110,~D.~0 we are employing <br />three full time employees who, this last fiscal year 7/1/92 - <br />6/30/93 produced 83 sales leads, (43 of those leads were <br />booked in the city) represented Pleasanton at six trade <br />shows, and were responsible for an increase of T.O.T. to the <br />city of $53,635 dollars over 1991 revenues and for the 1st <br />quarter of 1993 T.O.T. is up $55,265.0e over 1st quarter <br />1992! Second quarter up another $38,~e~} for a total increase <br />close to $9e,~0. so far this year. <br /> <br /> While the economy in general was in a decline, including <br /> <br />the hospitality industry as a whole, Pleasanton enjoyed an <br />increase in funds to the city - proof that tough economic <br />times, you do not stop advertising! In fact, you must try <br />even harder to be sure you get your "share of the pie." <br /> <br /> Last year we were asked by the city to decrease u <br /> <br /> <br />