Title
Update on the Lodgers & Auto Rental Tax (LART) Event Application Review Process
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
The LART Citizen's Advisory Committee's (CAC) role is to make recommendations to the City concerning the expenditures of the LART Fund (City Code 2.9.110). The process the LART CAC undertakes to formulate the recommendations to City Council for event funding has been updated over the past year. This item provides an update on the process to City Council for their information, and to ensure Council is aware of the thorough process that the LART CAC conducts that results in their recommendations to City Council.
Background:
The LART Tax, 2% on lodging and 1% on auto rental, was established in 1978 with the purpose of attracting visitors and enhancing the economy of the City and Pikes Peak Region (City Code 2.9.102).
A number of events in the community have been designated by Council resolutions over the years as "City-sponsored events" and are supported in whole or in part by LART funds. The remaining funds are allocated to projects and events in the community through an application process and extensive review by the LART Citizen Advisory Committee, which results in their recommendation to City Council for events and projects to fund from the LART Fund.
Previously, the LART CAC evaluated applications using criteria that meet the purpose of LART funding, such as ability to attract out-of-area visitors, economic impact (hotel room nights, increasing visitation), however did not make use of a formal evaluation rating/scoring mechanism.
The number of applications that have been submitted for review has increased over the last number of years, ranging from around 60 in 2017 to over 90 in the past two years. This increased volume of applications has placed greater demands on the LART CAC. Also, in anticipation of the possibility of greater revenue generation to the LART fund, it is expected that ...
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