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    7. 6.    
Regular City Council Meeting
Meeting Date: 09/10/2019  

Agenda Item
Resolution - Finance: Consider a resolution amending the allocation of the Hotel Occupancy Tax (HOT) Revenues for FY 2019-20 and distributing receipts, net collection expenses, as authorized in Subsection 18.03.001(b)(2) of the Code of Ordinances of the City of Lubbock.
Item Summary
Hotel Occupancy Tax (HOT) receipts are distributed as authorized in Chapter 351 of the Texas Tax Code as directed by the City Council.  The total revenue projected for FY 2019-20 is $7,789,948, an increase of $503,411.

The FY 2019-20 Operating Budget includes changes to the FY 2018-19 allocation as follows:
Civic Center Operations and Marketing allocation decreased from 23.1 percent to 22.0 percent.
  • Buddy and Maria Elena Holly Plaza Debt Service allocation decreased from 1.2 percent to 1.1 percent.
  • The allocation for Transfer to TIF – Conference Center decreased from 6.6 percent to 6.3 percent.
  • The allocation for Transfer to Civic Center CIP increased from 6.9 percent to 8.4 percent.
Budgeted expenditures have increased $503,411 for FY 2019-20.  The funds received from the HOT shall be distributed as follows:
Convention & Tourism Bureau 42.38340%
Civic Center Operations/Marketing 22.00270%
Visiting Participatory & Spectator Sports Marketing 13.81600%
North Overton TIF Conference Center Debt Service 6.30620%
Civic Lubbock, Inc. 5.92120%
Transfer to Civic Center CIP 8.44084%
Buddy & Maria Elena Holly Plaza Debt Service 1.12966%
Total 100.00000%
Fiscal Impact
Included in Item Summary
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer


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