Hotel Occupancy Tax Grants

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Information about Hotel Occupancy Tax Grants
News & Politics

Published on February 27, 2014

Author: ColinKillian

Source: slideshare.net

Hotel Occupancy Tax Grants Presented by Shannon Overby President & CEO BCS Convention & Visitors Bureau

“The mission of the Brazos Valley Convention and Visitors Bureau is to enhance economic and social growth in Bryan, College Station and the Brazos Valley by marketing, promoting, developing and coordinating tourism, conventions, sports and hospitality opportunities in the area.”

Hotel Occupancy Tax Two-Part Test 1. Must “directly enhance and promote tourism AND the convention & hotel industry” 2. Fit in to one of 8 catagories • • • • • • • • Convention Center Convention Registration Advertising/Promotion Arts (maximum 15%) Historical Preservation Sporting Events Enhancement of existing Sports Faciliteis Transportation Systems

History FY2011 – Rewards Program FY2012 – Rewards Program FY2013 – HOT Grant FY2014 – HOT Grant via Panel (2x per year)

Rewards Program To be the recognized and respected leader in the Brazos Valley responsible for the Visitor Industry by our communities, stakeholders and customers

Rewards Program FY2011 & FY2012 36 groups applied 21 groups qualified 18,495 attendees of groups held 3,220 attendees of groups still pending Total Cost $ ($16,850 paid / $5,750 pending) Benefit – awareness by NEW groups Downfall - Funds limited to CVB Budget Only available to NEW groups

HOT Grant FY2013 Applicants • • 11 organizations / 15 events 61,500 attendees Total amound requested $292,205 • • $205,205 from College Station $87,000 from Bryan Total Amount “Approved” = $131,178 • • $107,046 from College Station $24,132 from Bryan Estimated Visitor Spending in Community = over $28 million

HOT Grant FY2013 Pros Allowed HOT funds to be spent for ROI Completely transparent and fair Protected Funding Partners & CVB Allowed to incentivize groups to return/stay in BCS • Encouraged events on „need‟ dates • • • • Cons • • • • Process was extremely time consuming No immediate response for client Limited funds Some organizations went around this system for funding

HOT Grant FY 2014 Changes – Grant Panels twice a year October Panel • 9 organizations / 15 events • 73,607 attendees Total amount requested = $273,350 • $196,350 from College Station • $77,000 from Bryan Total amount funded = $143,250 • $110,950 from College Station • $32,300 from Bryan Estimate Economic Impact = $29.5 mil

HOT Grant FY 2014 March Panel • • • • 11 Organizations / 13 Events 23,496 Attendees $245,049 Requested Estimated Economic Impact = $9.5 million Pros • Much Smoother Process • Immediate Questions, Discussion, Decisions • 25% up front invoice and payment easier Cons • Limited funds – $128,000 from CS • Post event invoicing & Payments

HOT Grant Panel Grant Panel • CVB Executive Committee • Both city Councils • City appointments • BVLA Appointment • Arts Council Representative • Representatives from City Manager’s Offices Process • Presentation & Q&A • Evaluation • Room Nights Generated • Need Dates • Potential for return • Number of attendees (spectators & participants/registrants)

WHAT’S NEXT?

HOT Grants in the future • Increase Funds Available • Unlimited? • Percent of HOT Tax Collected? • Simplify the invoice / payment process • Invoice for full amount upfront • Provide quarterly and annual report showing what was paid out and what is left

Questions Shannon Overby, CMP 979-260-9898 shannon@bcscvb.org www.visitaggieland.com

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