DEPARTMENT: Convention & Sports Facilities
DEPARTMENT HEAD: Michael J. Sawaya
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT: Local Contribution related to Major Reimbursable Events
SUMMARY:
An Ordinance authorizing submission of a local contribution in the amount of $16,000.00 to the Texas Governor's Office in anticipation of reimbursement of up to $116,000.00 from the Texas State Events Trust Fund for the 2018 Society of Critical Care Medicine's 47th Critical Care Congress at the Henry B. Gonzalez Convention Center and appropriation of $34,849.00 to fund the local contribution and a qualified building improvement project from the Hotel Occupancy Tax Redemption & Capital Reserve Fund.
BACKGROUND INFORMATION:
The Events Trust Fund Program created through statute, Vernon's Texas Civil Statutes 5190.14, provides municipalities and counties the opportunity to obtain reimbursement for eligible expenses related to hosting and attracting high-visibility, high-tax impact events to the State of Texas that could otherwise have taken place outside of the state. The Event Trust Funds may be utilized to pay for eligible expenses such as preparing for an event, conducting an event to include equipment, or pay towards principal and interest used to build or improve facilities to host the proposed event.
The Events Trust Fund applies local and state gains from sales and use, auto rental, hotel and alcoholic beverage taxes generated over a 30-day period from the date of an event or series of events conducted no more than once annually. Reimbursable dollars for these sports events are based on anticipated tax gain for a particular event. In order to obtain reimbursement for eligible expenses, municipalities are required to match funds that are deposited in the Event's Trust Fund on a ratio of 1:6.25.
The Society of Critical Care Medicine's 47th Critical Care Congress will be held at the Henry B. Gon...
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