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CONSENT AGENDA <br />Indian River County <br />Interoffice Memorandum <br />Office of Management and Budget <br />To: Members of the Board of County Commissioners <br />Date: March 11, 2025 <br />From: Kristin Daniels <br />Director, Office of Management & Budget <br />Subject: Outside Agency Funding Policy Revisions — Tourist Tax Revenue Allocation <br />Background <br />The Board of County Commissioners established an Outside Agency Funding Policy on February 19, <br />2002. Revisions to the policy were subsequently made on November 3, 2009, May 16, 2017, March 15, <br />2022 and again on August 16, 2022. Periodically, the policy needs to be reviewed and updated in order <br />to memorialize any necessary changes. <br />On November 5, 2024, the voters of Indian River County voted in favor of levying an additional one cent <br />of Tourist Development Tax. On December 3, 2024, the Board of County Commissioners approved <br />amending the Tourist Tax distribution to allocate 2 cents to Tourism Development Funds, up from the <br />previous 1 2,3 cents, generating an additional $258,647 towards funding Tourism Development Agencies. <br />The allocation to the County's Coastal Engineering Fund was also increased to 2 3/4 cents, from 2 "12 <br />cents, generating an additional $517,604. <br />Because the Tourist Development Agencies section of the Outside Agency Funding Policy references <br />the amount of Tourist Tax levied as well as the distribution, revisions to the Policy must be made to <br />reflect these changes. The attached Outside Agency Funding Policy March 2025 Strikethrough Version <br />document details the requested changes. <br />Recommendation <br />Staff recommends that the Board of County Commissioners approve the aforementioned revisions to the <br />Outside Agency Funding Policy. <br />Attachment <br />Agenda Item from December 3, 2024 <br />Proposed Outside Agency Funding Policy <br />Outside Agency Funding Policy March 2025 Strikethrough Version <br />148 <br />