HomeMy WebLinkAboutResolution - 2017-R0336 - Allocation Of Hotel Occupancy Tax Revenue - 09/14/2017Resolution No.2017-R0336
Item No.7.13
September 14,2017 RESOLUTION
WHEREAS,the City Council of the City of Lubbock,by Ordinance No.2002-
O0049,amended Subsection 18.03.001(b)(2)of the Code of Ordinances of the City of
Lubbock to allow for allocation of Hotel Occupancy Tax Revenues by Resolution;and
WHEREAS,the City Council of the City of Lubbock deems it to be in the best
interest of the citizens of Lubbock to adjust the current allocation of hotel occupancy tax
revenues;NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
1.THAT the funds received from the tax levied under Section 18.03.001(a)of the
Code of Ordinances of the City of Lubbock,net of collection expenses,shall
be distributed as follows:
Convention &Tourism Bureau
Civic Center Operations/Marketing
Visiting Participatory &Spectator Sports Marketing
North Overton TIF Conference Center Debt Service
Civic Lubbock,Inc.
Transfer to CIP -Civic Center Exterior Improvements
Buddy &Maria Elena Holly Plaza Debt Service
Total
42.38340 percent
26.61307 percent
13.81600 percent
7.33183 percent
5.92120 percent
2.77322 percent
1.16129 percent
100.00000 percent
THAT to the extent revenue is collected,each of the above entities will receive
100%of actual revenue at the percentage indicated.
ATTEST:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
D.BTu Kostelich,
Chief Financial Officer
APPROVED AS TO FORM:
RES.Hotel-Motel 17-18
8.10.17
DANIEL M.POPE,MAYOR
City of Lubbock, TX
Finance Department
FY 2017-18 Proposed Allocations for Hotel Occupancy Tax
Final Proposed
FY 2016-17
FY 2016-17
FY 2017-18
Approved
Re -forecasted
Total Hotel/Motel Tax
Percentage
Proposed Allocation
Percentage
Allocation
Allocation
Variance
Civic Center Operations/Marketing
$ 7,211,829
0.2661307
1,919,289
0.2437385
1,676,781
1,692,967
242,508
Convention & Tourism Bureau
7,211,829
0.4238340
3,056,618
0.3863691
2,657,998
2,683,656
398,620
Visiting Participatory and Spectator Sports Marketing
7,211,829
0.1381600
996,386
0.1210454
832,723
840,761
163,663
Buddy and Maria Elena Holly Plaza Debt Service
7,211,829
0.0116129
83,750
0.0136185
93,688
94,592
(9,938)
North Overton TIF Conference Center
7,211,829
0.0733183
528,759
0.0799771
550,197
555,508
(21,438)
Civic Lubbock, Inc.
7,211,829
0.0592120
427,027
0.0592120
407,345
411,277
19,682
Transfer to CIP - Civic Center Exterior Improvements
7,211,829
0.0277322
200,000
0.0777239
534,696
539,857
(334,696)
Total
1.0000000
7,211,829
1.0000000
6,879,428
6,945,836
332,401
8/11/2017