6/8/1993 - Laserfiche WebLink

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Direct&r Baird reported that antic1pated revenue for the 1993- 94 fiscal year is about $368,000, but there is a total of $475,000 in the fund because of cash forward from prior years. Tourist tax revenues have declined approximately 20% over the past three or four years, and the Tourist Development Council (TDC) is recommending that a significant amount of the 1993-94 budget be allocated to the Chamber of Commerce for advertising in an attempt to bring more money into the local economy. Director Baird explained that it was left to his discretion to determine whether specific grants should be allocated to District 1 or District 2. Jay Smith, Mayor of the City of Vero Beach (the City) , reminded the Board that two districts were established when this tourist tax was first considered. District 1 was Vero Beach and District 2 was the remainder of the county. An agreement was reached whereby money raised in District 1 was to be spent in District I and could be used to create, improve or maintain tourist -related facilities. The City prepared a proposed budget showing how the money would be spent during the first two years after the tax was enacted, and the voters approved the tax in -a County -wide referendum. About 60% of the tax was expected to be generated by facilities located within the City. Some of the uses of District 1 funds during the first few years included the construction of restroom facilities and paving the parking lot at Riverside Park. The City"s original request for 1993-94 was funding for an experimental beach dewatering system. However, it did not appear that the TDC would favor that request, so the City asked permission to submit some alternate requests for the funds. one alternate funding request is for an open-air convention center on Memorial Island to be used by veterans organizations. Mayor Smith related that about two months ago, representatives from a veterans organization that was having a reunion in Fort Pierce used the facilities at Memorial Island for one of their events. Although most of the activities were held in Fort Pierce, the participants preferred to stay in Vero Beach. This resulted in the entire Vero Beach Inn being booked for an average stay of four days. since there is some disagreement between the City and County attorneys as to whether or not an open-air convention center on Memorial Island would be a qualified use of tourist tax funds, the City is making an alternate request for $130,000 to defray maintenance expenses for all the City -owned parks, which are heavily used by tourists. The City agrees that funds allocated to Riverside Theatre, the Center for the Arts and the Heritage Center can be deducted from the City's share of the money. However, the 27 JUN - 8 1993 89 rma78-0