HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/23/2021 - VISIT FORT COLLINS UPDATE AND TOURISM BUSINESS IMP (2)DATE:
STAFF:
February 23, 2021
Amanda King, Communications/Public Involvement
Director
Clay Frickey, Redevelopment Program Manager
John Duval, Legal
WORK SESSION ITEM
City Council
SUBJECT FOR DISCUSSION
Visit Fort Collins Update and Tourism Business Improvement District.
EXECUTIVE SUMMARY
The purpose of this item is to provide an update on Visit Fort Collins, COVID -19 impacts to the travel and tourism
industry, the Destination Master Plan, and to discuss the opportunity of additional funding through the creation of
a Tourism Business Improvement District.
Cynthia Eichler, Visit Fort Collins President and CEO will be presenting along with a consultant.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Part A
1. Does Council have any questions or feedback about tourism impacts and recovery or the Destination Master
Plan?
Part B
1. Does Council support this funding option, and if so, which path is preferred?
2. Is Council ready to bring this option forward?
BACKGROUND / DISCUSSION
In 1984, Fort Collins instituted a 3% lodging tax. Shortly thereafter, the Fort Collins Convention and Visitors
Bureau (now dba Visit Fort Collins) was formed to serve as the tourism and convention marketing and service
agency for the City. The City contracts with Visit Fort Collins (VFC) to provide various convention and visitors
services.
Since 2006, the contract has been based on a funding model whereby VFC re ceives 70% of the lodging tax
dollars; the Cultural Resources Board receives the remaining 30% to distribute as Fort Fund grants.
Within its contractual services, VFC oversees destination sales and marketing and conference services. VFC
provides information services for visitors and local residents through public relations and marketing programs and
through its annual Visitors Guide with 80,000 produced and distributed. VFC operates the downtown visitor
information center and the state’s Colorado Welcome Center. VFC also facilitates the successful Certified
Tourism Ambassador hospitality training program.
Destination Master Plan
In 2019, a Tourism and Destination Master Plan was funded, with the City and VFC each contributing $50,000 to
fund the plan. The planning process was paused in April 2020 due to impacts from the COVID-19 pandemic on
the consulting partner, stakeholder participation and continued uncertainty within the tourism industry. The
process resumed in January 2021 and a finalized plan will be presented in May of 2021.
February 23, 2021 Page 2
Tourism Business Improvement District
During the engagement process and strategic discussions for the Destination Master Plan, a need to explore
additional funding mechanisms evolved. From that engagement, an opportunity to consider the creation of a
Tourism Business Improvement District (TBID) moved forward with support from the Visit Fort Collins Board of
Directors and hotel stakeholders.
Civitas Advisors were hired to conduct a Feasibility Study to determine if a TBID wa s an option for Visit Fort
Collins. At the conclusion of the study, it was found to be an option for use under Colorado statutes and City of
Fort Collins ordinance. A Formation Proposal was considered and approved by the Visit Fort Collins Board of
Directors.
While the earlier commitment to secure additional funding via a Tourism Business Improvement District would
move the organization forward competitively, there are additional benefits with the current health emergency
affecting all facets of tourism. Communities across the country are exploring TBID’s as a mechanism for “self-
rescue.” An additional assessment, such as a TBID, will allow for collection of revenue in real time to be invested
for the businesses participating in the district.
In Fort Collins, lodging collections have been negatively impacted more than any other citywide category. Lodging
tax collections are down 47.6% through December. No other category comes close to this loss.
A willingness by stakeholders to explore this option is si gnificant. Hotels are familiar with the opportunity to invest
in marketing and sales activities to generate income for their respective businesses. A self -assessment in their
industry has direct benefits. It also has the potential to positively impact addi tional business categories such as
restaurants, retail, breweries, tour operators and service providers.
The recently completed summary of economic impact demonstrates clear return on investment:
• Direct economic impact: $220 million, a 26% increase over the previous reporting period.
• Total jobs: 4,197, an 10.4% increase from the previous reporting period.
• Sales tax generated: $10million, an increase of 30.7% from the previous reporting period.
A 2020 Year End memo was recently shared with Council and included an updated Visitor Study and Economic
Impact Study:
<https://citydocs.fcgov.com/?cmd=convert&vid=218&docid=3512847&dt=MAIL+PACKET>
ATTACHMENTS
1. 2020 Lodging Tax Report (PDF)
2. Tourism Business Improvement Districts At-a-Glance (PDF)
3. Rocky Mountain Lodging Report (PDF)
4. PowerPoint Presentation (PDF)
201620172018201920202020 over/ under 20192016-2020JAN$81,902.08 79,597.00$ 101,000.00$ 136,670.00$ 133,029.00$ -2.7%$532,198.08FEB$76,114.00 72,367.00$ 84,000.00$ 92,474.00$ 91,951.00$ -0.6%$416,906.00MAR$86,726.00 80,606.00$ 85,000.00$ 87,042.00$ 99,669.00$ 14.5%$439,043.00APR$95,108.00 98,356.00$ 114,000.00$ 152,919.00$ 62,987.00$ -58.8%$523,370.00MAY$108,313.00 103,539.00$ 118,000.00$ 132,354.00$ 20,049.00$ -84.9%$482,255.00JUN$137,250.00 138,868.00$ 161,000.00$ 174,588.00$ 26,717.00$ -84.7%$638,423.00JUL$179,136.00 179,706.00$ 226,000.00$ 227,780.00$ 68,002.00$ -70.1%$880,624.00AUG$172,922.00 174,399.00$ 207,000.00$ 241,809.00$ 91,000.00$ -62.4%$887,130.00SEP$163,172.00 184,716.00$ 201,000.00$ 209,336.00$ 118,310.00$ -43.5%$876,534.00OCT$143,701.00 172,270.00$ 212,000.00$ 220,543.00$ 116,566.00$ -47.1%$865,080.00NOV$124,066.00 143,977.00$ 169,100.00$ 172,206.00$ 139,231.00$ -19.1%$748,580.00DEC$85,396.00 92,164.00$ 115,000.00$ 99,000.00$ 53,743.00$ -45.7%$445,303.00TOTAL$1,453,806.08 1,520,565.00$ 1,793,100.00$ 1,946,721.00$ 1,021,254.00$ -47.5%$1,453,806.08VFC's share of the the total collection will be $714,887.80. Funds for use via Fort Fund I & II will be $306,376.20CITY OF FORT COLLINSLODGING TAX COLLECTIONSC:\Users\aking\Downloads\2020 Lodging Tax Report.xlsxATTACHMENT 1
At-A-Glance: Tourism Business Improvement Districts in Fort Collins
Benefits of Emphasizing Tourism Funding
1. Raising a destination’s profile
2. Increasing tourism and kicking off a virtuous cycle of economic development.
3. Generating local tax revenue
4. Enabling public investment to improve the quality of life for res idents, businesses and visitors
Assessment vs. Tax
One of the key qualities of a TBID is that the levy is an assessment, not a tax. Unlike taxes, assessment
dollars will always be used to fund programs and services that benefit only those paying the assessment,
and not to those not charged. Furthermore, assessment revenue cannot be diverted for other purposes
outside of TBID services. Taxes are a part of a City’s general fund, and can be seized at will, but TBID
assessment dollars will always remain allocated for the provision of TBID activities and services.
Stability of Funding
Another hallmark quality of a TBID is the stability of funding that it provides to those paying the assessment.
Revenue generated by a local tax, such as bed taxes, are often at the mercy of both the City and the
economy. TBID assessments are levied at a consistent rate allocated for a specific purpose, and therefore
provides much greater stability than other funding sources.
Home Rule vs. BID Statute
A TBID in Fort Collins can be formed via the Business Improvement District Law (BID Law) or through the
passage of a local ordinance (home rule).
Proposed Fort Collins TBID Assessment Rate
The annual assessment rate is proposed to be three percent (3%) of gross short term (stays less than 31
days) room rental revenue. Based on the benefit received, assessments will not be collected on lodging
business stays of more than thirty (30) consecutive days.
Proposed Governance
Lodging Businesses paying the assessment will be eligible to serve as the TBID Governance to provide
improvements and activities for the FCTBID. The TBID Governance must provide an annual report on
activities and expenditures to the City, which is also available to business owners.
Steps to Formation
1. Hotel & local government outreach
2. Stakeholders determine parameters and service plan
3. Identify legal authority
4. Plan prepared
5. Hotel approval process
6. Local government approval process
ATTACHMENT 2
ROCKY MOUNTAIN LODGING REPORT
Colorado Edition December 2020
2020 YEAR-TO-DATE 2019 YEAR-TO-DATE
ROOM NIGHTS OCC OCC OCC
LOCATION AVAILABLE OCCUPIED % ADR REVPAR % ADR REVPAR % ADR REVPAR
DENVER 1,146,539 379,428 33.1% $84.04 $27.81 41.7% $104.53 $43.60 74.3% $146.14 $108.64
COLORADO SPRINGS
LEVEL 1 105,493 33,170 31.4% $95.28 $29.96 45.1% $109.13 $49.19 68.5% $125.73 $86.08
LEVEL II 62,930 27,722 44.1% $80.53 $35.48 58.6% $93.37 $54.70 72.7% $109.62 $79.73
TOTAL 168,423 60,892 36.2% $88.57 $32.02 50.0% $102.42 $51.19 70.0% $119.62 $83.76
RESORTS
VAIL 47,045 21,414 45.5% $466.73 $212.45 41.6% $371.36 $154.53 52.5% $348.40 $182.92
ASPEN 25,730 10,072 39.1% $807.62 $316.14 56.1% $598.18 $335.73 66.2% $569.17 $377.01
TELLURIDE 14,999 4,686 31.2% $609.95 $190.56 48.5% $419.61 $203.71 52.8% $369.02 $194.87
BRECKENRIDGE 39,376 20,890 53.1% $342.82 $181.88 47.0% $246.20 $115.82 55.6% $223.25 $124.16
STEAMBOAT SPRINGS 23,002 10,515 45.7% $188.39 $86.12 54.6% $166.13 $90.63 65.6% $174.66 $114.65
OTHER RESORTS 121,891 44,813 36.8% $394.77 $145.14 43.9% $313.34 $137.42 55.4% $296.68 $164.48
TOTAL RESORTS 272,043 112,390 41.3% $425.49 $175.78 46.3% $334.74 $155.05 56.7% $318.72 $180.64
DURANGO 18,507 7,301 39.4% $103.70 $40.91 53.5% $119.04 $63.70 69.8% $132.86 $92.69
GRAND JUNCTION 29,711 11,909 40.1% $60.44 $24.23 51.7% $69.75 $36.04 60.4% $84.00 $50.73
GLENWOOD SPRINGS 35,836 18,523 51.7% $138.23 $71.45 57.0% $131.58 $74.96 65.0% $143.52 $93.31
ESTES PARK 26,108 9,473 36.3% $178.19 $64.65 42.0% $195.66 $82.12 54.9% $195.83 $107.56
LONGMONT 29,481 7,759 26.3% $72.13 $18.98 34.3% $87.39 $29.94 61.4% $120.56 $73.98
FT. COLLINS 56,749 14,728 26.0% $87.98 $22.83 44.4% $98.40 $43.70 67.3% $125.64 $84.59
LOVELAND 31,961 10,796 33.8% $82.18 $27.76 48.3% $98.58 $47.60 71.2% $125.14 $89.05
GREELEY 21,421 9,418 44.0% $72.24 $31.76 50.6% $84.85 $42.93 75.4% $106.38 $80.21
CRAIG 13,404 5,751 42.9% $73.57 $31.57 50.0% $79.15 $39.55 51.8% $81.98 $42.44
OTHER COLORADO 57,357 22,659 39.5% $84.01 $33.19 49.0% $86.47 $42.35 59.2% $99.41 $58.83
TOTALS 1,907,540 671,027 35.2% $143.92 $50.63 44.0% $133.16 $58.64 69.7% $160.21 $111.59
Colorado Hotel & Lodging Association 1701 California Street, Suite LL-1061 Denver, Colorado 80202
(303) 297-8335 FAX: (303) 297-8104 www.coloradolodging.com
AFFILIATED WITH AMERICAN HOTEL AND LODGING ASSOCIATION
The Rocky Mountain Lodging Report is compiled by Plante Moran, in cooperation with the Colorado Hotel & Lodging Association,
Robert S. Benton & Associates, Inc. and W. R. Hopping & CO. Readers are advised that the above do not represent the data contained herein to be definitive.
Neither should the contents of this publication be construed as a recommendation on policies or actions. This report is subject to copyright laws.
Reproduction of this report, in whole or in part, without written permission, is prohibited.
For additional information, please contact Robert Benton at (303) 840-1666, Bill Hopping, MAI (303) 798-4045 or Bob Hottman at (303) 740-9400
The Rocky Mountain Lodging Report • P.O. Box 632242 • Littleton, CO 80163 • rockymountainlodgingreport@comcast.net • www.rockymountainlodgingreport.com
PANDEMIC IMPACT ON ROOMNIGHT AVAILABILITY
Due to the COVID-19 pandemic, some hotels have elected to temporarily close their doors. To be consistent
with past methodology for when hotels close, either temporarily or permanently, closed rooms and hotels are
removed from inventory so that calculated occupancies and average daily rates shown in the report reflect data
only for those rooms that are available for occupancy. Hotels open for a portion of the month are included in the
survey, and rooms available reflect the portion of the month that the hotel was open. As hotels reopen or make
some of their rooms available for occupancy in the future, that supply will be added to the rooms survey when
available for occupancy.
ATTACHMENT 3
ROCKY MOUNTAIN LODGING REPORT
Summary of Occupancy and Average Daily Room Rates for the Colorado
OCCUPANCY AVERAGE REVENUE PER
PERCENTAGE DAILY RATE AVAILABLE ROOM
2020 2019 2020 2019 2020 2019
JANUARY 58.1% 58.7% $167.32 $169.79 $97.15 $99.69
FEBRUARY 63.5% 64.1% $172.18 $174.87 $109.28 $112.15
MARCH 38.8% 69.3% $151.15 $169.00 $58.65 $117.05
APRIL 16.8% 66.3% $82.23 $139.00 $13.80 $92.16
MAY 26.5% 69.5% $83.27 $142.94 $22.07 $99.30
JUNE 38.3% 80.5% $104.85 $166.65 $40.19 $134.17
JULY 48.9% 85.4% $132.06 $176.31 $64.57 $150.55
AUGUST 51.1% 81.3% $131.64 $167.13 $67.28 $135.80
SEPTEMBER 50.8% 76.6% $121.04 $159.70 $61.50 $122.39
OCTOBER 50.5% 71.9% $110.29 $151.84 $55.66 $109.14
NOVEMBER 34.4% 58.1% $99.20 $130.27 $34.16 $75.69
DECEMBER 35.2% 53.4% $143.92 $167.38 $50.63 $89.45
YEAR TO DATE 44.0% 69.7% $133.16 $160.21 $58.64 $111.59
90
75
60
45
30
15
180
160
140
120
100
80
60
COLORADO
PERCENTAGES OF OCCUPANCY
2020 vs. 2019
2020 OCCUPANCY 2019 OCCUPANCY
COLORADO
AVERAGE ROOM RATES
2020 vs. 2019
JAN MAR MAY JUL SEPT NOV FEB APRIL JUN AUG OCT DEC
2020 AVERAGE RATE 2019 AVERAGE RATE
JAN MAR MAY JUL SEPT NOV FEB APRIL JUN AUG OCT DEC
Vi sit Fort Collins –To urism Update
Destination Master Plan and Road To Recovery
Pr oposed Tourism Business Improvement District
ATTACHMENT 4
Agenda
•Tr avel & To urism updates
•Impacts of COVID-19
•Destination Master Plan
•To urism Business Improvement District
Destination promotion drives broader
economic development by:
1.Raising a destination’s profile
2.Increasing tourism and kicking off a virtuous cycle of economic
development.
3.Generating local tax revenue
4.Enabling public investment to improve the quality of life for
residents, businesses and visitors.
SOURCE: US Travel
In 2019, Colorado v isitors spent a record $24.2
billion, generating $1.5 billion in state and local
taxes. Spending directly supported over 181,200
jobs and earning over $7.4 billion.
Economic Impact of Travel on Colorado 1996-2016P. Dean Runyan Associates
Fort Collins To urism ~
Summary of Economic Impact Report
Direct economic impact
in 2019/20 was $220M Up 26% from 2016/17
To tal jobs in 2019/20 increase 10.4% to 4,197 from 3,801
in 2016/2017
City of Fort Collins sales tax
generated by tourism was $10M
in 2019/20.
This was a 30.7% increase from
2016/2017
•To tal economic impact of tourism for the City
of Fort Collins was $346.3 M
•ROI on marketing to influence leisure trip
spending by Visit Fort Collins was $35.4 to $1
Then COVID-19 Impacted Everything
Current Sales & Use Ta x –
Ye ar to Date
Lodging is down -47.6%
Re staurant and Bars is down -16%
Miscellaneous Retailers is up 13.6%
Grocery, Convenience, Liquor is up 8.9%
Building Material, Garden Equipment & Supplies is up 7.3%
Ro cky Mountain
Lodging Report
Destination Master Plan
2020
Destination Master Plan
Fort Collins Hotels
MULTIPLE LEADERS
Striving for Inclusion
Connecting Talent 2.0
Responding to Community Issues
Encouraging Aspirational Concepts
Fort Collins
community partners
Configuring Events
Supporting the needs
of the Nighttime
Economy
Branding Pride of
Place
Expanding Basecamp:
Fort Collins
Leveraging
Community
Connections
Funding the FutureHarnessing the
Essence of Fort Collins
Investing in Quality of
Place
Improving Gateways &
Corridors
Fostering Creative
Community
Funding for the Future
Leveraging Community
Connections
Fostering Creative
Community
Harnessing Essence of
Fort Collins
Configuring Events
Discussing Re covery Pr iorities
Improving Gateways &
Corridors
Branding Pride of Place
Expanding Basecamp
Fort Collins
Supporting the Needs of
the Nighttime Economy
Re covery Actions Aspirational Needs
Vital
Linkages
Striving for Inclusion
Connecting Talent 2.0
Re sponding to Community Issues
Investing in
Quality of Place
Pa rt A Re cap
Question Opportunity
•What questions does Council have on tourism
impacts and/or short and long term plans?
Destination Master Plan
2020
Funding for the Future
Securing competitive level funding for
implementation of plan and showing the
overall value of tourism to Fort Collins
M ASTER P LAN S IGNATURE L INK
Destination 2018
Budget
Lodging
Tax Total Tax Assessment
Rate
Visit Denver $ 38,800,000 10.8%14.75%1%
Snowmass Tourism $ 7,200,000 2.4%12.40%
Breckenridge Tourism Office $ 5,682,000 3.4%10.90%
Visit Colorado Springs $ 4,862,747 2.0%10.25%
Visit Aurora $ 4,065,000 8.0%12.50%$2
Visit Estes Park $ 3,001,283 2.0%10.70%
Aspen Chamber Resort Assoc.$ 2,900,000 2.0%11.30%
Visit Grand Junction $ 2,890,000 6.0%14.02%
Gunnison/Crested Butte $ 2,300,000 4.0%9.00%
Telluride Tourism $ 2,300,000 2.0%12.65%
Boulder CVB $ 2,021,315 7.5%12.49%
Visit Fort Collins $ 1,293,582 3.0%10.55%
Visit Durango $ 1,212,954 4.0%10.40%
Visit Loveland $ 1,107,524 3.0%9.70%
Visit Glenwood Springs $ 1,019,242 2.5%11.10%
Steamboat Springs Chamber $ 850,000 3.0%11.40%**
Visit Pagosa Springs $ 800,000 4.9%11.80%
Alamosa Conv. & Visitors Bureau $ 739,620 5.9%13.90%
Pursue Tourism Business Improvement District funding
structure
oAssemble the steps and understanding
oDevelop the funding level model
oConstruct the benefit strategy
oNavigate the legal and approval process
Loss of Lodging Ta x
Ye ar 2010 2011 2012 2013 2014 2015
Lodging Tax $807,748 $908,908 $1,001,840 $1,102,694 $1,304,613 $1,451,008
Ye ar 2016 2017 2018 2019 2020
Lodging Tax $1,453,307 $1,520,567 $1,793,693 $1,946,406 $1,021,171
Compounded Annual Growth Rate between 2010 –2019 was 10.3%
2020 Lodging Tax Revenue lost 8 years of lodging tax revenue growth.
Why a TBID in Fort Collins?
Dedicated funding through a business-based assessment that provides
benefit to the payors through a direct benefit.
Why a TBID over a Lodging
Ta x increase
Dedicated funding for programs and services that will be
leveraged to increase demand for overnight visitation.
Since the fee/assessment is levied against the businesses, the
funding shall be used to benefit the businesses paying the
fee/assessment. Unlike fee/assessments, taxes are not
required to benefit the businesses paying them and generally
go to fund general fund services.
TBIDs in
Colorado
Tw o possible existing authorities:
1.Home Ru le:To urism Business
Improvement District
2.Business Improvement District –
C.R.S.§31-25-12
Business
Improvement
Districts
Colorado Re vised Statute §31-25-12
authorizes the creation of Business
Improvement Districts (BIDs).Under
Colorado law,the municipalities of the
state may form BIDs for the purpose of
developing and implementing economic
improvements for a district.
•Ta x,Fee,or Assessment are levied on real
property within the BID
Home Rule
The City of Fort Collins is a Home Ru le Authority
under Colorado's Article XX.
The City of Fort Collins Charter,Article 1 Section
4 defines the Po wer of the City to "have all the
powers granted to municipal corporations and to
cities by the Constitution and general laws of this
state,together with all the implied powers
necessary to carry into execution all the powers
granted.The enumeration of particular powers by
this Charter shall not be deemed to be exclusive,
and in addition to the powers enumerated or
implied,or appropriate to the exercise of such
powers,it is intended that the city shall have and
may exercise all powers of local self-government
which,under the Constitution of this state,it
would be competent for this Charter specifically
to enumerate."
Business-Based
Assessment
Property-Based
Assessment
Governing Law Local ordinance BIA Act
Assessment Basis Ty pe of business, annual
revenue,
occupancy/capacity,
number of employees
Lot size, built square
fo otage, frontage linear
fo otage, use code/zoning
Collection Collected with transient
occupancy taxes or other
method as determined by
the TBID and the City
Collected with property
taxes
Overlap Allows for overlap with
existing and future
districts
No allowable overlap
authorized
Fe e/Assessment
vs. Tax
Fee/Assessment
•Fee/Assessment funds are used to
provide a specific benefit to the payors
that is not provided to those not charged.
Assessment funds can not be diverted to
the general fund or other services that do
not specifically benefit the payor.
Ta xe s
•A tax goes into a jurisdiction’s general
fund and can be spent at the City ’s
discretion.Common services are police,
fire,transportation,sewer,environmental
issues,general economic development,
etc.
How it Works
Businesses pay a
fee/assessment…
Collected by
the local
government…
And managed
by a Board of
Director
comprised of
Business
Owners
Characteristics
•Level playing field—no free riders
•Tr ansparency
•Re liability
•Pa ss-through to customers
Governance
Lodging Businesses paying the assessment
will be eligible to serve as the TBID
Governance to provide improvements and
activities for the FCTBID.The TBID
Governance must provide an annual report
on activities and expenditures to the City,
which is also available to business owners.
Pr oposed
Fee/Assessment
Rate
The annual fee/assessment rate is proposed
to be three percent (3%)of gross short term
(stays less than 31 days)room rental
revenue.Based on the benefit received,
assessments will not be collected on
lodging business stays of more than thirty
(30)consecutive days.
Local Ordinance Date BID Statute Date
Initiate project; Initial Steering Committee Meeting October 2020 Initiate project; Initial Steering Committee Meeting October 2020
Ongoing outreach and consensus building to hotel
and lodging business representatives; confirm
proposed district parameters
October -Ongoing
Ongoing outreach and consensus building to hotel
and lodging business representatives; confirm
proposed district parameters
October -Ongoing
Draft Ordinance, Operating Plan & Petition; Steering
Committee & City review
November 2020 –
February 2021
Draft Operating Plan & Petition, Steering Committee
& City review
November 2020 –
February 2021
City Council-Adopt Local Ordinance, the “Business-
Based Improvement District Act”March –April 2021
Finalize Operating Plan & Petition April 2021 Finalize Operating Plan & Petition April 2021
Petition Drive-Need signatures of business owners
subject to assessment, in the proposed District
having a valuation for assessment of not less than
fifty percent.
May –June 2021
Petition Drive-Need signatures of property owners
having of the valuation for assessment of all real and
personal property in the service area of the
proposed District and who own at least fifty percent
of the acreage in the proposed district.
May –July 2021
Notice of Hearing-not less than 20 days nor more
than 40 days after filing of petition
·Must be published in the newspaper and
mailed to each assessed business owner
July 2021
Notice of Hearing-not less than 20 days nor more
than 40 days after filing of petition
Must be published in the newspaper and mailed to
each assessed property owner
August 2021
Hearing on Formation of the District July 2021 Hearing on Formation of the District August 2021
City Council-Adopt District Formation Ordinance July 2021 City Council-Adopt District Formation Ordinance August 2021
District begins collecting assessment August 2021 District begins collecting assessment September 2021
Ti meline Comparison
Hotel
SUPPORT
Since October 2020, Visit Fort
Collins has been meeting with a
group of hotel general managers
to educate and build consensus
for a TBID to support a
dedicated funding mechanism
for tourism sales and marketing
programming and destination
development initiatives.
Pa rt B Recap
Question Opportunity
•Does Council support this funding option?
•If yes, which path is preferred?
•Is Council ready to bring this option forward?
Proposed
Budget
Service Initial
budget %
Sales, Marketing, and
Communications $900,000 60%
Destination
Development $300,000 20%
Administration and
Operations $225,000 15%
Contingency / Reserve $45,000 3%
City Collection Fee $30,000 2%
TOTAL $1,500,000 100%
Benchmarked from 2019 Lodging Tax Collections