HomeMy WebLinkAbout09/21/2021 03.A. Lodging Tax Advisory Committee Report •
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 3.A.
For Meeting of: September 21, 2021
ITEM TITLE: Lodging Tax Advisory Committee Report
SUBMITTED BY: Mayor Patricia Byers, Chair, LTAC Committee
Jennifer Ferrer Santa Ines, Director of Finance and Budget
SUMMARY EXPLANATION:
Lodging Tax Advisory Committee Recommendations for the 2022 Lodging Tax Allocation
ITEM BUDGETED: Yes
STRATEGIC PRIORITY: Economic Development
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
To approve the LTAC Recommendations as outlined.
ATTACHMENTS:
Description Upload Date Type
Ii LTAC Recommendations Corer Memo
2
Lodging Tax Advisory Committee
September 7, 2021
City of Yakima City Council
129 North 2nd Street,
Yakima, Washington 98901
Dear City Council,
The Lodging Tax Advisory Committee (LTAC) met on August 26th to review applications for the
2022 Budget Lodging Tax. The committee received several applications during the publicly-
noticed application period from March 15t through July 15t
The committee recommendation utilizes a 2022 Lodging Tax Revenue forecast of $1,482,000,
based on actuals through July 2021 and on hotel interactions with event and meeting planners.
The committee sought to prioritize, both city-owned facilities while seeking to reinvest lodging
tax to maximize overnight hotel stays to the greatest extent possible.
The committee's budgetary recommendation is as follows:
Revenue forecast 1,482,000
Less, existing city obligations
Convention Center debt (347,211)
Convention Center capital exp (69,114)
Convention Center operations (654,575)
Visitor Center Operations (76,500)
Sports Commission Operations (87,500)
Capitol Theatre Operations (160,000)
SunDome (87,100)
(1,482,000,00)
Surplus (deficit) 0
Respectfully,
atric a Byers
Chair, Lodging Tax Advisory Committee