Laserfiche WebLink
Board of Commissioners <br /> Page 2 of 3 <br /> June 2, 2015 <br /> File copies of the applications for each agency are available in the Board of Commissioners <br /> office for review. <br /> Funding and Analysis <br /> Staff estimates total funding of $731,400 available for distribution to tourism development <br /> agencies next fiscal year. As shown in Table 1 above, requests totaled $752,483, leaving a <br /> shortfall of$21,083. The shortfall is about 2.8% of the total amount requested. <br /> Jim Hill, Councilmember, City of Sebastian, made a motion to recommend a 2.8% reduction in <br /> agency requests across the board to address the shortfall. The motion also contained a provision <br /> to hold harmless the three (3) agencies that did not request an increase in funding (Cultural <br /> Council, Indian River Historical Society, and Vero Heritage). Steve Hayes seconded the motion, <br /> and the motion passed unanimously(7 - 0). <br /> The motion resulted in a decrease of $18,493 in requests, leaving a shortfall of $2,590. Staff <br /> agreed to fund this differential from reserves based upon the nominal amount of the shortfall. <br /> Table 2 <br /> TOURIST DEVELOPMENT COUNCIL <br /> Fiscal Year 2015/2016 Funding Recommendation <br /> 2015/2016 <br /> 2014/2015 TDC Increase % Increase <br /> Organization Funding Recommend. (Decrease) (Decrease) <br /> Indian River County Chamber <br /> of Commerce & Sebastian $428,578 $454,394 $25,816 6.0% <br /> Chamber of Commerce <br /> Treasure Coast Sports $150,400 $163,296 $12,896 8.6% <br /> Commission <br /> Cultural Council $60,000 $60,000 $0 0.0% <br /> Vero Heritage $12,000 $12,000 $0 0.0% <br /> Historical Society $20,000 $20,000 $0 0.0% <br /> Sebastian COC Pelican Porch $0 $24,300 $24,300 n/a <br /> Visitor's Center <br /> Total $670,978 $733,990 $63,012 9.4% <br /> 83 <br />