HomeMy WebLinkAboutResolution 5958-05-2024A Resolution
NO.5958-05-2024
AUTHORIZING AND EXPANDING FORT WORTH PUBLIC
IMPROVEMENT DISTRICT NO.18 (TOURISM PID) TO INCLUDE AN
ADDITIONAL HOTEL AND TAKING CERTAIN OTHER ACTIONS
CONCERNING THE DISTRICT
WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of
the Texas Local Government Code ("Act") allows for the establishment of public
improvement districts;
WHEREAS, on August 29, 2017, the City Council adopted Resolution No. 4837-
08-2017, establishing Fort Worth Public Improvement District 18—Tourism ("Tourism
PID") ("Establishing Resolution");
WHEREAS, on August 18, 2020, April 13, 2021, September 14, 2021, and
April 12, 2022 the City Council adopted Resolution Nos. 5264-08-2020, 5382-04-
2021, 5467-09-2021, and 5561-04-2022 respectively, expanding the boundaries of the
Tourism PID ("Tourism PID") (Resolution Nos. 5264-08-2020, 5382-08-2021, 5467-
09-2021 and 5561-04-2022 are collectively referred to as the "Expansion Resolutions");
WHEREAS, Section 372.0121 of the Act, as amended by the 87th Texas
Legislature (2021) through Senate Bill 804, allows the City Council to include
additional properties in the Tourism PID if (i) the property is a hotel and (ii) a sufficient
number of the record owners of the real property currently included and proposed to be
included in the Tourism PID have consented to be included in the Tourism PID by signing
the original petition to establish the Tourism PID or by signing a petition or written
consent to include property in the Tourism PID;
WHEREAS, the number of consenting record owners is sufficient if the record
owners own more than 60% of appraised value of taxable real property Iiable for
assessment in the Tourism PID; and either (i) constitute more than 60% of all record
owners of taxable real property liable for assessment in the Tourism PID, or
(ii) own, in aggregate, more than 60% of the area of all taxable real property liable
for assessment in the Tourism PID;
WHEREAS, another expansion petition ("Petition") was submitted to the City of
Fort Worth, Texas ("City"), pursuant to the Act, requesting to expand the Tourism PID
boundaries to include an additional hotel property within the Tourism PID and has
been on file in the office of the City Secretary for public inspection;
WHEREAS, pursuant to Section 372.009 of the Act, the City provided notice
and publication of two public hearings to be conducted on May 14, 2024 and May 21,
2024 to consider the expansion of the Tourism PID ("Public Hearings"), which notice
and publication included the following: (i) time and place of the Public Hearings; (ii)
general nature of the proposed improvements and services; (iii) estimated costs of the
improvements and services; (iv) expanded boundaries of the Tourism PID; (v) proposed
method of assessment; and (vi) proposed apportionment of cost between the additional
hotel property in Tourism PID and the City;
WHEREAS, notice of the Public Hearings was published on April 25, 2024 in the
Fort Worth Star -Telegram, a newspaper of general circulation in the City, and was
also mailed on April 25, 2024 to all record owners of property in the Tourism PID
Iiable for assessment, and 'all persons desiring to be heard were given a full and fair
opportunity to be heard at the Public Hearing;
WHEREAS, the City Council conducted and adjourned the Public Hearing to
consider the expansion of the Tourism PID; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
1. Recitals.
The findings set forth in the recitals of this Resolution are found to be true
and correct.
2. Findings.
The City Council, after duly considering the evidence and testimony
presented at the Public Hearings and based on all information known by the City
Council, hereby makes the following findings:
2.1 Petition and Boundaries.
(a) The current boundaries of the Tourism PID consist of
noncontiguous areas authorized under Section 372.0035 of the Act
consisting solely of hotel properties with 100 or more rooms
ordinarily used for sleeping within the City of Fort Worth. The lists
of the original and additional hotels that are included within the
boundaries of the Tourism PID are included in the Establishing
Resolution and Expansion Resolutions, respectively.
(b) As set forth in the Recitals above, the Act allows the City Council
to include additional properties in the Tourism PID if the required
elements are satisfied. As evidenced below, the hotel property set
forth in Exhibit "A", which is attached hereto and incorporated
herein for all purposes ("Additional Hotel Property"), meets the
necessary elements for inclusion into the Tourism PID.
(i) The Additional Hotel Property to be included in the Tourism
PID as part of this Resolution is a hotel property.
(ii) A sufficient number of record owners of the real property
currently included and proposed to be included in the
Tourism PID have consented to be included in the Tourism
PID by signing the original petition to establish the Tourism
PID or by signing a petition or written consent to include
property in the Tourism PID. Specifically, the number of
consenting record owners exceeds the thresholds required by
the Act, which is evidenced by the following: (1) 80.54% of
appraised value of taxable real property liable for
assessment, (2) 66.67% of record owners of taxable real
property liable for assessment, and (3) 69.63% for the area
of all taxable real property liable for assessment.
2.2 Advisability and Feasibility of the Improvements and Services
Proposed for the Tourism PID. It is advisable to expand the Tourism PID
to include the Additional Hotel Property to provide the proposed
improvements and services described in the Petition and this Resolution.
The improvements and services will promote the interests of the City
and confer a special benefit on the assessed properties within the Tourism
PID. The Fort Worth Convention and Visitor's Bureau staff performed an
analysis of the Tourism PID, its service plan and strategies, and
concluded that it provides a very effective means for significantly
enhancing the ability of Fort Worth to promote its hotel, convention, and
tourism activity, which has been borne out since the Tourism PID's
establishment. Based on this analysis and the successful history of the
Tourism PID, the City finds the proposed tourism public improvement
district to be both advisable and feasible.
2.3 Nature of the Improvements and Services. The general nature of
the proposed improvements and services to be provided within the
expanded boundaries of Tourism PID include, without limitation,
marketing, business recruitment, and promotional activities authorized by
the Act for improvements and promotion of the Tourism PID, including,
but not limited to, the provision of incentives by the Fort Worth
Convention and Visitors Bureau to organizations to encourage them to
bring large and city-wide events (including, without limitation, meetings,
sporting, recreation, and cultural events) to Fort Worth and to fund
additional marketing by the Fort Worth Convention and Visitors Bureau
to increase hotel stays within the City.
2.4 Estimated Cost of the Improvements and Services. Over the four
(4) year period beginning on October 1, 2023 and ending on the expiration
of the Tourism PID as provided in Section 3, the estimated total cost of the
improvements and services to be provided by the Tourism PID will be
$29,810,000.00, which includes an estimated cost of $7,000,000.00 for
the 2023-2024 fiscal year.
For the 2023-2024 fiscal year, the estimated costs of the above -referenced
improvements and services, and estimated costs to implement such improvements
and services are:
Incentives and Sales Efforts
$3,298,875
Marketing and Research
(Promotion/Advertising)
$2,430,750
Site Visits & Familiarization Tours
$ 347,250
Cultural Enhancements through
Marketing and Promotion of the Arts
$520,875
Operations and Administration
$347,250
City Administrative Fee
$55,000
Total
$7,000,000
On September, 12, 2023, the City Council adopted the fiscal 2023-2024 budget and
four-year service plan, the same being Ordinance No. 26241-09-2023. The
inclusion of the Additional Hotel Property will not affect the adopted budget. Such
costs will be paid from assessments levied in accordance with the Act. The four-
year service plan proposed for the Tourism PID is attached hereto as "Exhibit B"
("Service Plan") and incorporated herein for all purposes. The Service Plan,
budget, and assessment amount are subject to annual review and approval by the
City Council.
2.5. Method of Assessment. The costs of the improvements and services will be
funded from assessments levied on and collected from properties located in the
Tourism PID that contain hotels of one hundred (100) or more guest rooms and that
are subject to payment of City hotel occupancy taxes pursuant to Chapter 32,
Article II of the City Code, as amended. The City will levy a special assessment
against the new hotel property located within the expanded boundaries of the
Tourism PID ("Hotel Parcel") in an amount equal to two percent (2%) of the
consideration received for occupancy of any sleeping rooms furnished by the new
hotel on the Hotel Parcel (subject to any lawful exemption of the hotel occupancy
tax under applicable state law and City ordinances), with such assessments to be
collected in the same manner and in accordance with the same procedures as those
established for collection of the City's hotel occupancy tax, as set forth in Chapter
32, Article I1 of the City Code, as amended. The collection of assessments will
begin on the earliest date allowed by the Act and continue to be collected at the
same time hotel occupancy taxes are collected. The City Council hereby finds that
the proposed method of assessment is reasonable and necessary.
3.6. Apportionment of Costs Between the Tourism PID and the City, as a
Whole. The apportionment of costs between the Tourism PID, inclusive of the
Additional Hotel Property, and the City, as a whole, is as follows:
(a) The entire cost of each improvement and service will be paid from
assessments levied in accordance with the Act.
(b) No City funds will be used to pay any portion of the cost of any
improvement or service, unless such funding is approved from the City
Council or other appropriate municipal authority on a case -by -case basis.
3. Inclusion of Additional Hotel Property within the Tourism PID• Term.
Based on the findings set forth above, the City Council authorizes the expansion of
the boundaries of the Tourism PID to include the Additional Hotel Property. The inclusion
of the Additional Hotel Property within the Tourism PID takes effect on the date on which
this Resolution is adopted by the City Council and will expire concurrently with the
expiration date set forth in Section 3 of the Establishing Resolution. The expansion of the
Tourism PID is subject to all conditions, limitations, and reservations set forth in the
findings in Sections 1 and 2. All other provisions of this Resolution will be effective from
and after adoption of this Resolution.
4. Advisory Body.
The City Council hereby declines to appoint an advisory body for the expanded
Tourism PID boundaries pursuant to Section 372.008 of the Act. The City Council hereby
reserves the right to assign responsibility for preparation of the ongoing service plan for
the PID to another entity in the absence of such an advisory body, as authorized by Section
372.013(a) of the Act.
ADOPTED this 21' day of May, 2024. 4� T
ATTEST:
Jannette Goodall
City Secretary
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EXHIBIT A
Expanded Boundaries of the Tourism PID
(Additional Hotel Property)
Account Name
Address
City, State, Zip
RMS
Bowie House
3700 Camp Bowie BIvd.
Fort Worth, TX
76107
106
Tourism PID Hotels
Update as of 4.8.2024
Account Name
Address
City, State, Zip
RMS
AC Hotel Fort Worth - Downtown
610 Main St
Fort Worth, TX 76102
252
Aloft Downtown Fort Worth
300 Throckmorton
Fort Worth, TX 76102
180
American Airlines Training and Conference Center
4601 Slate Hwy 360
Fort Worth, TX 76155
299
Autograph Collection Downtown Fort Worth
512 Main St.
Fort Worth, TX 76102
165
Bowie House
3700 Camp Bowie Blvd.
Fort Worth, TX 76107
106
Budget Suites of America - Fossil Creek
3500 NE Loop 820
Fort Worth, TX 76137
366
Candlewood Suites - DFW South
4200 Reggis Drive
Fort Worth, TX 76155
174
Courtyard by Marriott- Alliance
3001 Amador Dr.
Fort Worth, TX 76244
127
Courtyard by Marriott - Blackstone
609 Main Street
Fort Worth, TX 76102
203
Sonesl Select (Previously Courtyard by Marriott - Fossil
Creek)
3751 NE Loop 820
Fort Worth, TX 76137
154
Courtyard by Marriott - Stockyards
2537 Main St.
Fort Worth, TX 76164
124
Courtyard by Marriott - University Drive
3150 Riverfront
Fort Worth, TX 76107
130
Courtyard by Marriott - West at Cityview
6400 Overton Ridge Boulevard
Fort Worth, TX 76132
104
Dalworth Inn
812 E. Felix Street
Fort Worth, TX 76115
120
DFW Airport Marriott South
4151 Contreport Boulevard
Fort Worth, TX 76155
295
DFW Marriott Hotel and Golf Club at Champions Circle
3300 Championship Pkwy
Fort Worth, TX 76177
286
Embassy Suites Hotel - Downtown Fort Worth
600 Commerce Street
Fort Worth, TX 76102
156
Extended Stay America - City View
5065 Bryant Irvin Rd
Fort Worth, TX 76132
104
Fairfield Inn & Suites Downtown
1010 Houston
Fort Worth, TX 76102
110
Fairfield Inn & Suites Fossil Creek
3701 NE Loop 820
Fort Worth, TX 76137
106
Four Points by Sheraton Fort Worth
6828 North Freeway
Fort Worth, TX 76137
113
Hampton Inn and Suites - Westi1-30
2700 Green Oaks
Fort Worth, TX 76116
105
Hampton Inn and Suites - DFW South
4201 Reggis Court
Fort Worth, TX 76155
116
Hampton Inn and Suites Downtown Fort Worth
1001 Commerce St.
Fort Worth, TX 76102
245
Hilton Fort Worth
815 Main Street
Fort Worth, TX 76102
294
Hilton Garden Inn - Fort Worth Alliance Airport
2600 Westport Parkway
Fort Worth, TX 76177
127
Hilton Garden Inn - Medical Center
912 Northton Street
Fort Worth, TX 76104
157
Holiday Inn - DFW Airport South
14320 Centre Station Road
Fort Worth, TX 76155
143
Holiday Inn Express - Downtown
1111 W Lancaster
Fort Worth, TX 76102
132
Holiday Inn North - Fossil Creek
4635 Gemini Place
Fort Worth, TX 76106
126
Home2 Suites by Hilton - Cultural District
3000 & 3012 W Lancaster Ave
Fort Worth, TX 76107
114
Homewood Suites - Fossil Creek
3701 Tanacross
Fort Worth, TX 76137
137
Homewood Suites - Medical Center
2200 Charlie Lane
Fort Worth, TX 76104
157
Hotel Drover, Autograph Collection
200 Mule Alley Drive
Fort Worth, TX 76164
200
Hyatt Place - Alliance Town Center
3201 Alliance Town Center
Fort Worth, TX 76177
130
Hyatt Place - Cityview
5900 Cityview Street
Fort Worth, TX 76132
127
Hyatt Place - Stockyards
132 E Exchange
FortWorth, TX 76164
100
Hyatt Place - TCU
2500 West Berry Street
Fort Worth, TX 76109
127
Kimpton Hotel
714 Main St
Fort Worth, TX 76102
232
La Quinta Inn and Suites - Fort Worth North
2501 Polaris Dr
Fort Worth, TX 76137
133
La Quinta Inn and Suites - Southwest
6100 Overton Ridge
Fort Worth, TX 76132
128
Omni Fort Worth Hotel
1300 Houston
Fort Worth, TX 76102
614
Quality Inn and Suites - Cattle Baron
2700 S Cherry Lane
Fort Worth, TX 76116
109
Holiday Inn (Previously -Radisson - Fort Worth South Hotel)
100 Alta Mesa East
Fort Worth, TX 76134
247
Radisson Hotel - Fort Worth Fossil Creek
2540 Meacham Street
Fort Worth, TX 76106
247
Residence Inn - Alliance Airport
13400 North Freeway
Fort Worth, TX 76177
111
Residence Inn - Cultural District
2500 Museum Way
Fort Worth, TX 76107
150
Residence Inn - Fossil Creek
5801 Sandshell Drive
Fort Worth, TX 76137
114
Residence Inn -Waterside
5825 Arborlawn Drive
Fort Worth, TX 76109
119
Sandman Signature Hotel
810 Houston Street
Fort Worth, TX 76102
240
Sheraton FortWorth Hotel and Spa
1601 Commerce Street
Fort Worth, TX 76102
429
SpringHill Suites by Marriott - Stockyards
2315 N Main St
Fort Worth, TX 76164
170
SpringHill Suites by Marriott - University
3250 Lovell Street
Fort Worth, TX 76107
145
TownePlace Suites Downtown
801 E Belknap
Fort Worth, TX 76102
140
TownePlaoe Suites University
3450 W Vickery
Fort Worth, TX 76107
128
WoodSpring Suites Fort Worth
3501 NE Loop 820
Fort Worth, TX 76137
121
Worthington Renaissance Hotel
200 Main Street
Fort Worth, TX 76102
504
Total # of Hotels: 57
• Removed The Stay Express Hotel Fort Worth, 2000 Beach Street, Fort Worth, Texas 76103
EXHIBIT B
Service Plan
City of Fort Worth
Five Year SarAca Plan
Public Improvement District No.12 -Tourism
Fiscal Year 23124 through 26127
REVENUES
PID Assessments
Total Funds Available for Use
EXPENSES
Incentives & Sales Efforts
Marketing and Research (Prom otion/Advenising)
Site Visits & Fam iliarization Tours
Cultural Enhancements.th rough Marketing
and promotion of the Arts
Operations & Administration
City Administrative Fee
Total Budgeted Expenses
Contribution to Fund Balance
Total Expenses
Net Change In Fund Balance
Fund Balance, Beginning of Year Estimated
Estimated Fund Balance. End of Year
Reserve Requirement
Over (Under) Reserve
FY2324 FY2425 FY2526 FY2627
S 7.000.000 S 7,320,000 9 S 7,610,000 9 $ 7,880,000
3 1.000,000
S 7,320,000
S -1,610.000
S 7,880,000
$ 3.208.875
$ 3,450,875
$ 3,588.625
S 3,716,875
2,430,750
2,542,750
$644,250
2,738,750
347,250
363.250
377.750
391.250
520,875
644.875
566,625
586.675
347,250
363,250
377.750
391.250
55,000
55,000
55,000
55,000
S 7,000,000
S 7,320,000
S 7.610,000
S 7,880,000
S 71000,000
S 7,370,000
$ 7,610,000
$ 7,880,000
-
7,562,206
7,562.206
7,56Z206
7,562.206
7.562,208
7,562,206
7,562.208
7,562,206
1.220,244
1,266,587
1,313,59S
1,313,596
S 6,341,962
S 6,293,619
S 6.240,610
$ 9.248,610
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 05/21/24 M&C FILE NUMBER: M&C 24-0447
LOG NAME: 17PID18 MIDYEARAMENDFY24
SUBJECT
(ALL) Conduct Public Benefit Hearing Concerning the Following Matters Related to Fort Worth Public Improvement District No. 18 — Tourism:
(1) Expansion of the Fort Worth Public Improvement District No. 18 -- Tourism to Include One Additional Hotel, and (2) the 2023-2024 Assessment
for the Additional Hotel Property; Adopt the Resolution Authorizing and Expanding the Fort Worth Public Improvement District No. 18 —Tourism to
Include One Additional Hotel Property; Approve Revised 2023-2024 Assessment Roll; and Adopt Ordinance Levying Special Assessments on the
Additional Hotel Property for'Fiscal Year 2023-2024
(PUBLIC HEARING - a. Report of City Staff: Lacey Ruiz; b. Public Comment; c. Council Action: Close Public Hearing and Act on M&C)
RECOMMENDATION -
It is recommended that the City Council:
1. Conduct Public Benefit Hearing Concerning the following matters related to Fort Worth Public Improvement District No. 18 —Tourism:
(1) Expansion of the Fort Worth Public Improvement District No. 18 — Tourism to include one additional hotel property, and (2) the 2023-2024
Assessment for the additional hotel;
2. Adopt the attached Resolution (i) mating certain findings concerning the nature and advisability of the special improvements and services to
be provided for the benefit of the additional hotel to be included in the Fort Worth Public Improvement District No. 18 — Tourism, the
estimated costs of such improvements and services, the method of assessment, the boundaries of the Fort Worth Public Improvement
District No. 18 — Tourism, and the apportionment of costs between the Fort Worth Public Improvement District No. 18— Tourism and the City,
as a whole; and (ii) authorizing and expanding the Fort Worth Public Improvement District No. 18 — Tourism to include one additional hotel;
3. Approve the attached, revised 2023-2024 assessment roll.
4. Adopt the attached ordinance levying special assessments on the additional hotel property for Fiscal Year 2023 2024;
5. Direct the City Secretary to record a copy of the Assessment Ordinance in the real property records of the appropriate county no later than
the seventh (7th) day after adoption by the City Council.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to conduct a second public hearing concerning the expansion of Fort Worth
Public Improvement District 18 - Tourism (Tourism PID) to include one additional hotel property and the 2023-2024 assessment for the additional
hotel property, along with certain actions related thereto. The City Council conducted the first public hearing on May 14, 2024, finding that the
Petition to Expand the Tourism PID met the requirements set forth in Chapter 372 of the Texas Local Government Code (Code), approving the
filling of the revised 2023-2024 assessment roll, and setting this public hearing.
On August 29, 2017, the City Council adopted Resolution No. 4837-08-2017, establishing the Tourism PID (Establishing Resolution). The City
Council subsequently adopted Resolution Nos. 5264-08-2020 (August 18, 2020), 5382-04-2021 (April 13, 2021), 5467-09-2021 (September 14,
2021), and 5561-04-2022 (April 12, 2022).
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Boundaries:
The current boundaries of the Tourism PID consist of noncontiguous areas authorized under Section 372.0035 of the Texas Local Government
Code (Code) consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth. A list of
the hotels that are included within the boundaries of the Tourism PID is included in the Original and Expansion Resolutions, copies of which are
attached to this M&C within the Petition.
Senate Bill 804, 87th Texas Legislature (2021), which went into effect on June 14, 2021, revised Section 372.0121 of the Code to clarify the ability
of cities to add new hotels into an existing Tourism PID. One of the new provisions affects the way in which the City calculates (or recalculates) the
percentage threshold for adding new hotels into the Tourism PID. SB 804 requires the City to update and recalculate each of the percentage
thresholds set forth below every time a new hotel property is added to the Tourism PID. Conversely, the prior version of Section 372.0121 only
required the City to calculate the impact that the new hotel property had on the pre-existing thresholds. For example, under SB 804, the City has to
update and recalculate the appraised value of each and every existing property in the Tourism PID each time that a new hotel is added; whereas,
under the prior legislation, the City simply carried forward the values of the existing hotel properties from the year the hotel properties entered into
the Tourism PID.
Section 372.0121 of the Code allows the City Council to include additional properties in the Tourism PID if (i) the property is a hotel and (ii) a
sufficient number of the record owners of the real property currently included and proposed to be included in the Tourism PID have consented to be
included in the Tourism PID by signing the original petition to establish the district or by signing a petition or written consent to include property in
the Tourism PD. The number of consenting record owners is sufficient if (1) the record owners own more than 60% of appraised value of taxable
real property liable for assessment in the Tourism PID; and either (i) constitute more than 60% of all record owners of taxable real property liable
for assessment in the Tourism PID, or (ii) own, in aggregates, more than 60% of the area of all taxable real property liable for assessment in the
Tourism PID. If the addition of the new property results in these numbers dropping at or below the 60% threshold, then the property may not be
added.
Inclusion of the Bowie House hotel, located at 3700 Camp Bowie Blvd., Fort Worth, Texas 76107 (Bowie House) meets the above -stated elements
and, therefore, may be considered by the City Council for inclusion into the Tourism PID.
The Stay Express Hotel Fort Worth, situated at 2000 Beach Street, Fort Worth, Texas 76103 (Stay Express) is no longer eligible for inclusion in the
Tourism PID boundary due to its room count falling below 100. Therefore, it will be excluded from the original petition.
First, the Bowie House and the Stay Express are hotel properties.
The proposed inclusion of the Bowie House hotel, and the concurrent removal of the Stay Express from the Tourism PID are in compliance with the
stipulated criteria. The Bowie House qualifies as a hotel property, and the owner or a duly authorized representative has submitted a petition for its
inclusion within the Tourism PID. Following these modifications, the adjusted percentages for the appraised value of taxable real property liable for
assessment rise to 80.54%, the area of taxable real property to 69.63%, and the fraction of record owners liable for assessment to 66.67%. These
figures remain above the statutory threshold of 60.00%, thereby meeting the required conditions forthe adjustment of the Tourism PID's
composition.
Nature of the Improvements:
The goals of the Tourism PID focus on increasing the economic impact and enhancing competitiveness in conventions, meetings, leisure and
sports tourism and increasing tourism -related economic activity at all times, including during economic downturns and as inventory grows. The
Tourism PID projects include incentives and sales efforts, convention and sports marketing and promotion, site visits and familiarization tours,
community arts grants, convention services, event funding application, operations, research, and administration, all of which benefit the hotels
within the Tourism PID.
Method of Assessment and Apportionment of Costs:
The assessment rate will be an amount equal to 2.00% of the consideration received from the occupancy of any sleeping room fumished by a hotel
located within the Tourism PID, with such assessment to be collected in the same manner and in accordance with the same procedures as those
established for the collection of the City's Hotel Occupancy Tax, as set forth in Chapter 32, Article II of the City Code, as amended. The entire costs
of each improvement and service will be paid from the above -stated assessments and no City funds will be used to pay any portion of such costs
unless such funding is approved by the City Council on a case -by -case basis.
Costs of the Improvements and Services:
The total costs far the adopted services and improvements for the life of the Tourism PID (approximately four years) will be $29,810,000,00, which
includes an estimated cost of $7,000,000.00 for the Fiscal Year2023-2024 budget. Assessments for this Fiscal Year began on October 1, 2023.
Advisability:
Staff recommends that the City Council find that these improvements and services are advisable because they will promote the interests of the City
and confer a special benefit on the assessed properties within the expanded boundary of the Tourism PID.
Staff recommendation:
Staff recommends that City Council adopt the attached resolution authorizing and expanding the Tourism PID to include the above -stated
one additional hotel property, along with the corresponding assessment ordinance.
A Form 1295 is not required because: This MSC does not request approval of a contract with a business entity.
FISCAL INFORMATION ! CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect on City funds.
Submitted for City Manager's Office bv: William Johnson 5806
Originating Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608