Loading...
2013-04-09 HOT Committee Minutes 1 2 MINUTES 3 4 Hotel Occupancy Tax Committee Meeting 5 April 9, 2013 6 7 After determining that a quorum was present, the Hotel Occupancy Tax Committee (HOT) 8 convened into an Open Meeting on Tuesday, April 9, 2013 at 11:06 a.m. in the Utility 9 Administration Conference Room, City of Denton City Hall, 215 E. McKinney Street, Denton, 10 Texas. 11 12 PRESENT: Council Members Pete Kamp, Chris Watts and Dalton Gregory 13 14 EX-OFFICIO MEMBERS: 15 Jon Fortune, Assistant City Manager 16 Bryan Langley, Assistant City Manager 17 Jerry Drake, Deputy City Attorney 18 Chuck Springer, Director of Finance 19 Antonio Puente, Jr., Assistant Director of Finance 20 Randee Klingele, Treasury Services Specialist 21 22 AGENDA ITEM 1: CONSIDER APPROVAL OF HOTEL OCCUPANCY TAX MINUTES 23 FROM JULY 10, 2012. 24 25 Minutes were approved as written by Councilmember Dalton Gregory and seconded by 26 Councilmember Chris Watts. Motion passed unanimously. 27 28 AGENDA ITEM 2: RECEIVE A REPORT, HOLD A DISCUSSION AND PROVIDE 29 DIRECTION REGARDING THE HOTEL OCCUPANCY TAX PROGRAM YEAR 2014 FOR 30 FY 2013/14. 31 32 Chuck Springer reviewed the annual process to the committee and advised staff did not have any 33 changes to the program. The guidelines and application are recommended to remain the same. 34 Councilmember Gregory motioned to accept the program guidelines and application without 35 changes and seconded by Chris Watts. Motion passed unanimously. 36 37 Committee and staff agreed on the tentative date of June 18, 2013 for the next meeting date. 38 39 Councilmember Chris Watts opened a discussion regarding additional funding needs for the 40 Public Art Committee from the tourist and convention fund. Staff reminded the committee of the 41 art restrictions in the statute which only allows 15% of revenue to be allocated to the arts 42 annually. The Committee will discuss this possibility during its budget planning meeting in June. 43 44 AGENDA ITEM 3: RECEIVE A REPORT AND HOLD A DISCUSSION REGARDING 45 REVENUE AND EXPENDITURE PROJECTIONS IN THE TOURIST AND CONVENTION 46 FUND. 47 48 Bryan Langley reviewed the tourist and convention fund forecast with the committee. The 49 forecast includes no increases for most program participants other than public art and the 50 Convention and Visitors Bureau. The forecast includes $100,000 each year for convention center 51 related costs and projected revenue increases of 3% year over year. For future years staff 52 estimates gradual increases for the Convention and Visitors Bureau. A onetime amount of 53 $350,000 has also been earmarked in FY 2013/14 for convention center marketing. 54 55 The forecast intentionally builds a fund balance to provide for a convention center asset 56 replacement reserve. Bryan Langley clarified that this reserve would serve two purposes: 1) 57 future facility needs such as HVAC units or flooring replacement and 2) a contingency for the 58 possible need in paying the debt service of the convention center. Gregory Dalton suggested the 59 reserve fund should be labeled so that both purposes are easily illustrated. 60 61 AGENDA ITEM 4: NEW BUSINESS 62 63 Pete Kamp requested an analysis of the 15% art category expenditures in our current year 64 budgets for the June 18, 2013 meeting. 65 66 Meeting adjourned 11:45 A.M.