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IL�"E-a. I v. <br />May 8, 2018 <br />ITEM 14.E.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: May 2, 2018 <br />SUBJECT: Discussion on Tourist Development Council Ordinance <br />FROM: Tim Zorc <br />Commissioner, District 3 <br />Request for discussion on distribution allocations that are governed by our local ordinances <br />for Tourist Development Tax funds. The annual Tourist Development Tax revenue for <br />budget year 2018/19 is likely to surpass $1 million in unencumbered funds to be used to <br />promote local tourism. <br />How is Tourist Tax Collected and Spent? <br />A. 1-1/2 Cents for Tourism Development Agencies <br />B. 1-1/2 Cents for Beach Restoration <br />C. 1 cent for Dodgertown Purchase <br />In past years, the Tourist Development Council voted to distribute and award 95-100% of <br />the 1 Y2 cents for Tourism Development unencumbered funds to specific agencies. Below is <br />the distribution of the funds for FY 2017/2018: <br />AGENCY <br />2017/2018 <br />BUDGET APPROVED <br />Indian River County Chamber of Commerce <br />$457,386 <br />Sebastian Chamber of Commerce <br />$94,283 <br />Cultural Council of Indian River County <br />$60,000 <br />Indian River County Historical Society <br />$15,000 <br />Treasure Coast Sports Commission <br />$188,000 <br />Vero Heritage, Inc. <br />$13,000 <br />TOTAL <br />$827,669 <br />1 184 <br />