AGENDA TITLE:
title
Approve Lodi Tourism Business Improvement District (LTBID) 2024 Annual Report (ED)
end
MEETING DATE:
February 5, 2025
PREPARED BY:
Luis Aguilar, Economic Development Director
recommendation
RECOMMENDED ACTION:
Receive a presentation from the President and Chief Executive Officer of Visit Lodi, and Approve Lodi Tourism Business Improvement District (LTBID) 2024 Annual Report.
body
BACKGROUND INFORMATION:
On September 2, 2015, the City Council adopted Resolution 2015-159, establishing the Lodi Tourism Business Improvement District (LTBID) for a five-year term. On August 5, 2020, the City Council adopted Resolution 2020-172, renewing the LTBID an additional ten years through September 30, 2030. Pursuant to Lodi Municipal Code Chapter 12.07 and Streets and Highway Code Section 36600 et seq., also known as the "Property and Business Improvement District Law of 1994", the Owners Association, identified in the resolution as the Lodi Conference and Visitors Bureau (Visit Lodi!), is required to present an annual report (Exhibit A) to the Council for each year in which assessments are levied and collected to pay the costs of the improvements and activities described within the report. Assessments total 4.5 percent of hotel rates in the City and 3 percent of hotel rates in Flag City. For Fiscal Year 2025, Visit Lodi! is not proposing any changes to the method, basis for levying the assessment, or to the boundaries of assessed businesses within the LTBID.
STRATEGIC VISION:
3A. Fiscal Health: Promote City's transparency & fiscal fluency.
FISCAL IMPACT:
Visit Lodi! generates additional funding for local merchants, and the City, by encouraging tourism dollars to be spent locally.
FUNDING AVAILABLE:
Not applicable. The LTBID is funded by assessed lodging businesses.
_______________________________________
Luis Aguilar
...
Click here for full text