HomeMy WebLinkAboutResolution - 2020-R0310 - Amending Allocation of HOT Revenues for FY 2020-21Resolution No. 2020-R0310
Item No. 8.5
September 8, 2020 RESOLUTION
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:
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 42.38340 percent
Civic Center Operations/Marketing 27.37112 percent
Visiting Participatory & Spectator Sports Marketing 13.81600 percent
North Overton TIF Conference Center Debt Service 8.90338 percent
Civic Lubbock, Inc. 5.92120 percent
Buddy & Maria Elena Holly Plaza Debt Service 1.60491 percent
Total 100.00000 percent
2. THAT to the extent revenue is collected, each of the above entities will receive
100 percent of actual revenue at the percentage icated.
DANIEL M. POITE, MAYOR
A' 'EST: j� /
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
/ L
D. Btu KlAtelich,
Chief Financial Officer
APPROVED AS O
my L. ms,
De p y City Attorney
RES Hotel Occupancy FY 2020-21