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06/15/2021 03A Lodging Tax Advisory Committee Report ti i..asxntntj kd d g$Ag x°'naa.x,,4n BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 3.A. For Meeting of: June 15, 2021 ITEM TITLE: Lodging Tax Advisory Committee Report SUBMITTED BY: Patricia Byers, Committee Chair Steve Groom, Finance Director SUMMARY EXPLANATION: The Lodging Tax Advisory Committee (LTAC) met on May 10, 2021 via zoom. Staff provided a revenue update and each of the committee members provided updates regarding the recent lodging and tourism activities. The committee also reviewed the 2022 Lodging Tax Grant application process. The application is posted on the City website under City Council, Boards and Commissions, Lodging Tax Advisory Committee. At the next meeting, City staff will provide updated revenue forecasts, scheduled debt payments, and operating budget obligations before the committee reviews final applications. Council will review applications during the budget study session. The Committee meets next in late July or early August, allowing more months of lodging tax revenues to become known before formulating a balanced recommendation, which will allow time for the RCW-required 45-day window of communication prior to budget adoption. ITEM BUDGETED: NA STRATEGIC PRIORITY: Economic Development APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: