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HomeMy WebLinkAbout10/07/2025 06.A. Lodging Tax Advisory Committee (LTAC) Report i4 =+ BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6.A. For Meeting of: October 7, 2025 ITEM TITLE: Lodging Tax Advisory Committee (LTAC) Report SUBMITTED BY: *Patricia Byers, Lodging Tax Advisory Committee Chair SUMMARY EXPLANATION: On September 9, 2025, the Lodging Tax Advisory Committee (LTAC) reconvened to review a previously considered Lodging Tax Grant application. During the publicly announced application period (May 13 —July 12, 2025), LTAC received multiple applications and requested additional information on one of the submissions. After further review, LTAC voted to approve the City of Yakima's request for$50,000.00 to fund the City's portion of the Washington State Main Street Tax Credit Incentive Program (MSTCIP). The motion included language that the application is approved on a one-time basis and that future applications would receive additional scrutiny. This allocation will be a one-time award and will be drawn from Lodging Tax Fund reserves. ITEM BUDGETED: No STRATEGIC PRIORITY 24-25: A Resilient Yakima RECOMMENDATION: Approve Report. ATTACHMENTS: FY 2026 LTAC budget recommendations to Council 9.9.25.pdf 6 Lodging Tax Advisory Committee September 9, 2025 City of Yakima City Council 129 North 2nd Street, Yakima, Washington 98901 Dear Council, On September 9th, the Lodging Tax Advisory Committee (LTAC) reconvened to consider a previously reviewed Lodging Tax Grant application. During the publicly announced application period, which ran from May 13 through July 12, the Committee received multiple applications and requested follow-up information on one in particular. After further review, LTAC voted to approve the request from the City of Yakima for $50,000.00 to fund the City's portion of the Washington State Main Street Tax Credit Incentive Program (MSTCIP). This award will be a one-time allocation drawn from Lodging Tax Fund reserves. Respectfully, pfiNr Patricia Byers Chair, Lodging Tax Advisory Committee 7