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File #: 24-403    Version: 1 Name:
Type: Informational Report Status: Filed
File created: 7/15/2024 In control: Council Work Session
On agenda: 8/26/2024 Final action: 8/26/2024
Title: Visit COS - 2024 mid-year Lodgers and Auto Rental Tax (LART) contract update to City Council Presenter: Doug Price, President and CEO, Visit COS
Attachments: 1. Visit COS - LART - 2024 first half-yr VCOS KPI Presentation_City Council

 

Title

Visit COS - 2024 mid-year Lodgers and Auto Rental Tax (LART) contract update to City Council

 

  Presenter: 

Doug Price, President and CEO, Visit COS

 

Body

  Summary:

Visit COS will provide an update to City Council every 6 months regarding their work related to the LART Contract.

 

  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).  Visit COS is one of four LART-contracted entities that will provide an update to City Council every six months.

  Previous Council Action:

On November 14, 2023, City Council recommended LART expenditures to be included in the 2024 budget (Resolution No. 190-23), including funding for the four contracted entities to include Visit COS. On November 28, 2023, City Council approved the original 2024 Budget per Ordinance No. 23-65, which included the appropriation of funds for the LART Fund.

 

  Financial Implications:

N/A

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

Recommended Action

  Proposed Motion:

N/A

 

Summary of Ordinance Language

N/A



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