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Chief Administrative Office and the Department of Planning and Building, Economic Development Division, recommending the Board:
1) Provide direction to staff to enter into Funding Agreements for a term of two years for Fiscal Year (FY) 2019-20 and 2020-21 with the El Dorado County Chamber of Commerce - Visitors Authority, El Dorado County Chamber of Commerce - Film Commission, El Dorado Hills Chamber of Commerce, Lake Tahoe South Shore Chamber of Commerce, and the Tahoe Prosperity Center; and,
2) Conceptually approve the following Funding Agreements pursuant to General Plan Policy 10.1.6.4 for the issuance of Transient Occupancy Tax (TOT) funding to promote tourism, entertainment, business, and leisure travel in the County with the following entities:
a. El Dorado County Chamber of Commerce - Visitors Authority in the amount of $240,920 in FY 2019-20, and 2020-21 and 2021-22 for a total two-year amount not to exceed $481,840;
b. El Dorado County Chamber of Commerce - Film Commission in the amount of $150,750 in each FY 2019-20, and 2020-21 and 2021-22 for a total two-year amount not to exceed $301,500;
c. El Dorado Hills Chamber of Commerce in the amount of $110,320 in each FY 2019-20, and 2020-21 and 2021-22 for a total two-year amount not to exceed $220,640;
d. Lake Tahoe South Shore Chamber of Commerce in the amount of $78,950 in each FY 2019-20, and 2020-21 and 2021-22 for a total two-year amount not to exceed $157,900; and
e. Tahoe Prosperity Center in the amount of $30,000 in each FY 2019-20, and 2020-21 and 2021-22 for a total two-year amount not to exceed $60,000. (Est. Time: 30 Min.)
FUNDING: Transient Occupancy Tax
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DISCUSSION/BACKGROUND
Policy 10.1.6.4 of the Economic Development Element of the County’s General Plan specifies that “The majority of transient occupancy tax (TOT) generated revenue shall be directed toward the promotion of tourism, entertainment, business, and leisure travel in El Dorado County”. For budget purposes, the “...
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