Subject:
Title
Revisions to the Capital Projects Funding Program Guidelines from the Tourist Development Council.
label
Recommended Action:
Recommended Action
Approve the Tourist Development Council’s (TDC) recommended revisions to the Capital Projects Funding Program Guidelines (Guidelines).
The Capital Project Funding Program (CPFP) provides a significant return on investment of Tourist Development Tax Funds by increasing tourist room nights and tourist attendance in Pinellas County.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.4 Invest in infrastructure to meet current and future needs
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Summary:
The proposed revisions to the Guidelines update the economic impact study requirements and the application evaluation process.
With Board of County Commissioners (Board) approval, staff will begin implementation of the FY 2019 CPFP funding cycle.
Background Information:
The original Guidelines were approved by the Board on May 6, 2014, and amended on June 7, 2016, and December 12, 2017.
On June 20, 2018, during a TDC Work Session, the CVB’s consultant, Dennis Long, presented recommendations for improvements to the CPFP based on completion of the initial program funding cycle. The consultant’s recommendations addressed the requirements of the economic impact study, removed the requirement for a feasibility study, revised reimbursement to be at project completion, and revised the evaluation process. The TDC reached a consensus on all of the recommendations.
On July 18, 2018, during a regular TDC meeting, the members reviewed the recommended revisions, made an additional revision to the rating scale, and unanimously approved the Guidelines, as revised.
Fiscal Impact:
N/A
Staff Member Responsible:
David Downing, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Capital Projects Funding Program Guidelines (CPFP) Redline
Capital Projects Funding Program Guidelines (CPFP) Clean
Capital Projects Funding Program Guidelines (CPFP) Proposed Substantive Revisions