Title
Review of Second Round 2021 Lodging Tax Funded Tourism Services Proposals
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Review the proposals and develop recommendations to forward to City Council.
Report
Issue:
Whether to develop recommendations for additional 2021 tourism funding
Staff Contact:
Mike Reid, Economic Development Director, 360.753.8591
Presenter(s):
Each organization that submitted a proposal has been notified of the meeting date and encouraged to have a representative present in case the Committee has questions.
Background and Analysis:
Annually, the Olympia Lodging Tax Advisory Committee (LTAC) makes recommendations on use of approximately one-half of the City's Lodging Tax Fund. Per a long-standing agreement that pre-dates the Committee's creation, the City uses the other half for capital and operating costs of the Washington Center for the Performing Arts, a City-owned facility. Typically the application cycle for LTAC funds is completed at the end of the previous year but due to the impact of COVID and event cancellations the LTAC concluded that they would like to have two rounds of application eligibility.
In December 2020 the LTAC recommend funding 11 applications for a total amount of $346,497. A second application period was opened on April 1, 2021 with an application deadline of April 28, 2021. Seven (7) proposals were received by deadline totaling $255,000 in requests. No proposals were received after the deadline. The estimated LTAC reserve fund balance entering in to 2021 is $830,000. If revenue projections hold it is projected that the LTAC Reserve Fund Balance entering 2022 would be approximately $900,000.
LTAC Chair Cheryl Selby will present the Committee's recommendations to the City Council on at a future council meeting date to be determined.
Attachments:
2021 LTAC Applications - Second Round
Chart of Olympia Lodging Tax Award for Round 1 and 2 funding
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