TPID Update

[Ryan Alter]

Colleagues,

Councilmember Fuentes and I would like to share an update with you regarding the Austin Tourism Improvement District. Following CM Fuentes’s postponement of the service plan, we met with the Austin Hotel Lodging Association to find a solution to our key concern – the level and timing of funding that is ultimately remitted to the City for tourism incentives while the Convention Center is closed. Because of the closure, the incentives that increase hotel stays but that are ultimately provided to the City would have been significantly diminished and delayed.

We are pleased to let you know that we have reached an agreement with the AHLA that will address this concern. Under this agreement, which I will offer as an amendment to the current service plan, a new tourism incentive will be added for major event hosting while the Convention Center is closed. During this time, if the Convention Center does not have sufficient business to meet the 20% reimbursements for incentivizing business, the TPID will reimburse the City for hosting major events like SXSW, ACL, or the U.S. Grand Prix. This honors the purpose of the TPID – increasing tourism – while also allowing for the full 20% of the TPID funds to ultimately be remitted to the City to use for critical needs.

We have pulled the TPID for discussion at tomorrow’s work session to address any questions you might have.

Sincerely,
Ryan and Vanessa

[Ryan Alter]

Linked below is the revised service plan proposal that was submitted to our staff after negotiations with the Austin Hotel Lodging Association. I have had the chance to review it with law and with our city staff and look forward to passing this as a part of our meeting tomorrow.

http://assets.austintexas.gov/austincou ... 145849.pdf

Ryan