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Instead of the City subsidizing the CVB $180,000 per year, Ms. McGovern asked if the City would be providing $1,000,000 per year? Ms. Ott pointed out the funding does not come from the cities but from the hotel occupants. Ms. McGovern pointed out the CVB should only charge a certain amount for a hotel room to remain competitive. She believed $1,000,000 per year was a significant amount of money to draw from the community. She asked if the City had any control over how the funds are spent? Ms. Ott pointed out the four Tri-Valley cities would be active members of the CVB and have an interest in how these funds are spent. The CVB has spent a significant amount of time speaking individually and collectively to the hotels in the area, and the hotels believe this is a price it can afford and are willing to institute this fee at its hotels to have enough money to promote its business. She noted that the duration of the agreement is five years. year? Ms. McGovern asked if the City could revisit the terms of the agreement within one Michael Roush, City Attorney, said the agreement for the TBID is proposed as a five- year plan but he believed the duration of the agreement did not need to be five years. The four Tri-Valley cities could review the agreement on an annual basis because there would be a proposed annual budget. The reason for having afive-year agreement was to provide the CVB a chance to conduct long-range planning and compile programs that it wanted to implement within two or three years knowing that the funding is available. The agreement for the TBID would sunset at the end of five years unless further extended. The City of Pleasanton would hold and disburse the funds with input from the cities of Dublin, Livermore and San Ramon in terms of how the District is managed and implemented. Ms. McGovern would prefer for Pleasanton to have some control over $1,000,000. Tax. Mr. Sullivan did not believe Pleasanton could control the annual $1,000,000. Ms. McGovern believed it was possible if the four cities passed a Transient Occupancy Mr. Fialho pointed out that the TOT is a different revenue source, which is under the jurisdiction of the City of Pleasanton. The TBID is the same concept, which allows Pleasanton to have a business improvement district in the downtown area. The TBID is charging itself a fee that is collected by an agency and turned over to the TBID for budgeting purposes, similar to the Pleasanton Downtown Association. He believed the City would have adequate accountability that would allow Council to determine on an annual basis whether these funds are being used in the appropriate manner. CVB. basis? Mr. Roush pointed out the $1,000,000 is collective from the four Tri-Valley cities to the Mr. Brozosky asked if the four Tri-Valley cities approved the CVB budget on an annual Pleasanton City Council 3 09/06/05 Minutes