PLACEMENT: Public Hearings
TITLE:
title
PUBLIC HEARING TO CONSIDER ADOPTION OF ORDINANCE AMENDING SECTION 71.243.B, CHAPTER 71, FINANCE AND TAXATION, ARTICLE 6, TOURIST DEVELOPMENT TAXES, GENERAL ORDINANCES, MARTIN COUNTY CODE TO CHANGE THE CATEGORIES OF USE AND PERCENTAGES OF TAX REVENUES
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EXECUTIVE SUMMARY:
executive summary
The Board of County Commissioners (Board) is requested to adopt proposed amendments to Chapter 71, Finance and Taxation, Article 6, Tourist Development Taxes, General Ordinances, Martin County Code to modify the existing allocations for the uses of funds and percentages of tax revenues for tourist development taxes.
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DEPARTMENT: Administration
PREPARED BY: Name: Nerissa Okiye
Title: Tourism and Marketing Manager
REQUESTED BY: Martin County Tourist Development Council
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
The Board of County Commissioners and the Tourist Development Council (TDC) are required to annually review the Tourist Development Plan contained in the Tourist Development Taxes Ordinance (TDT Ordinance) pursuant to Section 71.244, General Ordinances, Martin County Code. At the May 16, 2018 TDC meeting, the TDC reviewed the current revenue allocations and uses of funds outlined in the TDT Ordinance. The TDC unanimously agreed that the reallocation of funds into the Promotion Category is needed to expand tourism efforts for Martin County. The TDC recommendation is to reallocate the funds raised from tourist development taxes to enhance promotion efforts were presented to the Board at its October 8, 2018 meeting. The Board approved the new funding allocations and authorized the TDC to bring the TDT Ordinance amendment forward for a public hearing.
Specifically, the proposed TDT Ordinance amendment reassigns the funds currently in the Capital Projects Category (Category C.), forecasted to be at $123,455, into the Promotion Category (Category A) leaving a zero balance for Capital Proje...
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