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File #: 15-00436    Version: Name:
Type: Ordinance Status: Mayor's Office
File created: 7/22/2015 In control: City Council
On agenda: 9/8/2015 Final action: 9/8/2015
Title: Ordinance No. 15-57 amending Ordinance No. 14-101 (2015 Appropriation Ordinance) for a $35,000 supplemental appropriation increasing expenditures in the Lodgers and Automobile Rental Tax (LART) fund for the purpose of providing 2015 funding to the Regional Business Alliance
Attachments: 1. 081015 LART - Supp Approp for half of RBA funding, 2. Signed Ordinance_15-57

 

 

Title

Ordinance No. 15-57 amending Ordinance No. 14-101 (2015 Appropriation Ordinance) for a $35,000 supplemental appropriation increasing expenditures in the Lodgers and Automobile Rental Tax (LART) fund for the purpose of providing 2015 funding to the Regional Business Alliance

 

Body

  From: 

Councilmember Don Knight

 

  Summary:

The ordinance appropriates $35,000 to increase expenditures in the LART fund to support the Regional Business Alliance’s economic development activities in 2015.  The supplemental appropriation supports an additional $35,000 to be expended from already-appropriated economic development funds.

 

  Previous Council Action: 

The LART fund supported the RBA in 2013 and 2014 with appropriations of $70,000 in each of those budget years.

 

  Background:

N/A

 

  Financial Implications:

The LART fund’s projected revenue in 2015 is $4.2 million, 2/3 of which is dedicated to the City’s contract for visitor and tourism promotion, which is currently held by the Colorado Springs Convention and Visitors Bureau.  The remaining funding is allocated to a variety of tourism promotion activities recommended by the LART Citizen’s Advisory Committee.

 

  Board/Commission Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

Recommended Action

  Proposed Motion:

N/A

 

Ordinance Language

N/A

 



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