Subject:
Title
Revisions to the Capital Projects Funding Program Guidelines from the Tourist Development Council.
label
Recommended Action:
Recommended Action
Approval of the Tourist Development Council’s (TDC) recommended revisions to the Capital Project Funding Program Guidelines (Guidelines).
• Capital Project Funding Program (CPFP) provides a significant economic benefit to the County through increased tourist room nights and attendance.
• Current Guidelines were approved by the Board of County Commissioners on August 7, 2018.
• Substantive revisions include:
1.) Added requirement to project or maintain minimum room night and attendance thresholds.
2.) Eliminated TDC Capital Projects Funding Committee and replaced with staff evaluating and scoring CPFP applications.
3.) Revised the rating criteria to include contribution of the project to County’s strategic plan and the projected minimum room night and attendance growth rate.
4.) Revised the point system associated with the rating criteria from a maximum of 1,000 points to a maximum of 100 points.
• Recommended revisions were unanimously approved by the TDC on March 29, 2023.
• Revising the guidelines has no fiscal impact on Pinellas County. Funding to support the Capital Project Funding Program is provided through the Tourist Development Tax Fund.
Body
Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
Summary
With Board approval, the revised Guidelines to administer the CPFP will commence with the upcoming FY24 application and funding cycle.
Body
Background Information:
The Capital Project Funding Program provides a significant economic benefit to the County through increased room nights and attendance at area attractions and museums. The original Guidelines were adopted by the Board on May 6, 2014, and amended on December 12, 2017, and August 7, 2018.
During five meetings held between October 20, 2021, and October 26, 2022, the TDC reviewed, discussed and approved proposed changes to the Guidelines.
- October 20, 2021, during a workshop, the TDC reviewed and approved
administrative revisions and requested further discussion on the rating criteria and
definitions.
- March 16, 2022, during a regular meeting, the TDC discussed the evaluation
process, rating criteria and funding standards. The TDC agreed the CPFP
application evaluation and rating should be relegated to staff and funding, whether
on a post construction basis or milestone payments during construction, should be
negotiated on a case-by-case basis.
- August 17, 2022, during a regular meeting, the TDC reiterated support for the Board
to determine the funding method and for staff to evaluate and score CPFP
applications (similar to the Elite Event Funding Program).
- September 21, 2022, during a regular meeting, the TDC reached a consensus on
the Guideline revisions that had been made to date.
- October 26, 2022, during a regular meeting, the TDC reviewed the proposed revised
rating criteria and point system and the addition of minimum thresholds for
attendance and room night projections, which must be maintained. Following
discussion, the TDC unanimously approved the revisions.
During joint meetings held on November 4, 2021, and February 28, 2023, both the Board and TDC reviewed and discussed the proposed revisions to the Guidelines.
On March 29, 2023, during a regular meeting, the TDC unanimously approved the finalized proposed revisions to the CPFP Guidelines.
Fiscal Impact:
N/A
Funding to support the Capital Project Funding Program is provided through the Tourist Development Tax Fund.
Staff Member Responsible:
Brian Lowack, Interim Director, Convention & Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Capital Projects Funding Program Guidelines (redline version)
Capital Projects Funding Program Guidelines (clean version)