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BCC AGENDA <br />July 5, 2016 <br />ITEM 14.A (1) <br />INDIAN RIVER COUNTY <br />BOARD OF COUNTY COMMISSIONERS <br />INTER -OFFICE MEMORANDUM <br />TO: Members of the Board of County Commissioners <br />DATE: June 29, 2016 <br />SUBJECT: Short Term Rentals and Hotels <br />FROM: Commissioner Bob Solari <br />The City of Vero Beach, by banning them and Indian River County, by regulating <br />them, have both addressed the short-term rental issue. Both, I believe, have, <br />however, addressed the symptom and not the cause of the problem. Both the city <br />and County have made tourism a major part of their economic development <br />program. Both have been successful. As a result, the demand for overnight stays <br />has increased significantly over the past years. <br />I have heard that hotel rates in Vero Beach are now high. Economically this is <br />consistent with higher demand coupled with flat supply. If, as I believe, the <br />County is becoming an increasingly inviting place for families to visit for their <br />vacations, demand is going to steadily increase. If the supply of hotel rooms does <br />not increase, the number of short-term rentals will. <br />My strong belief is, if City and County are going to continue to promote tourism <br />and discourage short-term rentals, then both need to do all that is reasonable to <br />make sure that the building of hotels is encouraged. <br />A short discussion by the Board about the need for more hotels might be a <br />positive first step. <br />Thank you. <br />136 <br />