Subject:
Title
Tourist Development Tax Proceeds, District 2
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Fiscal Impact:
Unknown
Dept/Office:
District 2
Requested Action:
Recommendation
Direct Staff and the Tourist Development Council (hereinafter "TDC") to Consider Use of Increased TDT Funds over the currently anticipated $16.6M for improvements to County- owned roadways and bridges benefiting tourism in Brevard County or projects benefiting or restoring the Indian River Lagoon, including utility expansions or improvements.
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Summary Explanation and Background:
The tourist development tax (hereinafter "TDT") has seen immense increases over the past several years. The actual fiscal year 2015 - 2016 TDT budget was $12.8M. 2016 - 2017 saw a rise to $12.6M. 2017 - 2018 tallied at $15.6M. 2018 - 2019 totaled $16.0M. The Office of Tourism, perhaps conservatively, forecasts a 2019 - 2020 TDT budget of $16.6M. It is possible that the TDT will bring in an amount exceeding this most recent estimate.
Brevard County presently authorizes up to $1M, of the TDT funds, to go toward Indian River Lagoon (hereinafter "IRL") cleanup efforts on an annual basis. Given the rise in the TDT, it may be worth revisiting whether this stagnant amount is too low.
Partly to that end, given the sharp and continuing increase of TDT funds, I am concerned that these funds continue to be used in a manner which benefits not only the tourism industry but also the vast majority of all residents, including those residents who do not see a value in the many worthwhile projects facilitated by TDT allocation and associated grants.
We may wish to consider using TDT funds in a manner not only benefiting the tourism sector but also emphasizing benefit to local residents who may not be directly involved in the tourism industry. This is a unique opportunity for commissioners to show constituents that we value their concerns and that none of us are controlled by lobbyists or special interests who may wish to exploit the TDT for their self-be...
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