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JAN 2? 1037 BOOK 6 7 .FA�F12"7 INDIAN RIVER COUNTY, FLORIDA TOURIST DEVELOPMENT TAX PROGRAM REPORT Anticipated Revenue and Program for Expenditures for Fiscal Year 1987/1988 and 1988/1989 Prepared by: Public Works Department January, 1987 In conformance with Florida Statutes, Section 125.0104, 1985, as amended by Chapter 86-4, Laws of Florida, the following Report is prepared to project anticipated tourist tax revenues to be collected in Indian River County, Florida for the 2 -year period fiscal year 1987/1988 and 1988/1989 and to allocate the revenue to tourist development projects as approved by the Indian River County Tourist Development Council. RevenueProjections - as prepared by the State of Florida epartmeit o evenue Yearly transient rental facilities taxable sales $12,586,000.00 Proposed tourist development tax (2$) x .02 251,720.00 2 -year revenue x 2 Projected Revenue $ 503,440.00 Proposed Project Expenditures Fiscal ear 1987 1988 and 1988 1989 Proposed tourist development tax collection will be countywide, however, the County will be divided into two Districts. District 1 will include the incorporated area within the City of Vero Beach and District 2 will include the remaining unincorporated and incorporated lands within Indian River County. The following prioritized program of expenditures is presented: I' District 1 - City of Vero Beach Activity Cost Priority #1 - Beach Cleaning $ 80,000.00 Priority #2 - Dune Restoration,- Revegation and Maintenance 130,000.00 Priority #3 - Chamber of Commerce Tourist Information 30,000.00 Priority #4 - Beach Park Maintenance 36,900.00 $276,900.00 District 2 - Indian River County NOT including City of Vero Beach Corporate Limits Activity Cost Priority #1 - Golden Sand Beach Park Development $2b0,000.00 Priority #2 - Beach Restoration and Nourishment Emergency Relief 26,500.00 $226,500.00 Grand Total'-- Districts 1 and 2 $503,400.00 67