TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Planning and Community Development
Carol Helland
425-556-2107
DEPARTMENT STAFF:
Planning and Community Development
Jackie Lalor
Economic Development and Tourism Program Administrator
Planning and Community Development
Philly Marsh
Economic Development Manager
Planning and Community Development
Seraphie Allen
Deputy Director
TITLE:
title
Lodging Tax Advisory Committee (LTAC) Budgeting Process Recommendations
OVERVIEW STATEMENT:
recommendation
Per Council's request in October 2022, the LTAC reviewed the lodging tax budget percentage distributions approved by the Council in 2005. The LTAC is bringing forward three new budgeting process recommendations to the Council for approval.
body
? Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
? Receive Information ? Provide Direction ? Approve
REQUEST RATIONALE:
* Relevant Plans/Policies:
N/A
* Required:
RCW 67.28
* Council Request:
October 4, 2022
* Other Key Facts:
N/A
OUTCOMES:
The LTAC believes the formal Council recommendations they are providing will allow them to provide better recommendations to respond to current needs and opportunities to attract visitors and further support the tourism industry in Redmond. The final LTAC budgeting process recommendations are as follows:
1. The LTAC recommends that the lodging tax budgeting process is no longer percentage-based but instead, follows the City of Redmond's biennium budgeting process starting in 2025.
(Dan Angellar Moved; Melody Lanthorn Seconded, Unanimously Passed)
2. The LTAC recommends an end-fund practice of maintaining a target balance equal to or greater than the average annual fund revenues.
(Dan Angellar Moved; Latha Sambamurti Seconded, Unanimously Passed)
3. The LTAC recommends that the City of Redmond seeks alternative funding sources for City signature events and cultural arts programming outside of th...
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