HomeMy WebLinkAboutResolution - 2023-R0454 - Hotel Occupancy Tax Revenues For FY 2023-24 - 09/12/2023Resolution No. 2023-R0454
September 12, 2023
Item No. 6.6
RESOLUTYON
WHEREAS, the City Council of the City of Lubbock, by Ordinance No. 2002-00049, 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
to each respective entity on a monthly basis.
2. THAT said funds shall only be released amounts to the extent the City of Lubbock
receives funding. The following amounts reflect the maximum amounts to be
disbursed to each entity. To the extent that the amount of taxes levied and collected
does not meet the stated amounts, the funding amounts shall be reduced
proportionately. The funds will 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.
Buddy & Maria Elena Holly Plaza Debt Service
Transfer to Civic Center Capital
Transfer to HOT Capital
Total
$ 3,697,485
2,609,010
1,205,294
446,568
556,593
89,375
415,710
379,965
$ 9,400,000
3. THAT to the extent revenue is collected, each of the above entities will receive 100
percent of actual revenue up to the amount indicated.
Passed by the City Council on September 12, 2023
ATTEST:
Courtney Paz, City S et
APPROVED AS TO CONTENT:
s
D. Kost ich,
Chief Financial Officer
Al'PROVED AS TO
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Dep�#y C� Attorney
22-23