TITLE: Title
Annual Report from the Tourism Development Authority and Budget Discussion
PURPOSE: The purpose of this agenda item is to update the Board of Aldermen on the activities of the Tourism Development Authority and to get feedback on the upcoming budget process.
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DEPARTMENT: Economic and Community Development and Finance
CONTACT INFORMATION: Annette D. Stone, AICP
INFORMATION: The Tourism Development Authority has been very active in promoting and increasing tourism and travel to Carrboro. In FY 2014-15 the revenues from the hotel exceeded projected estimates. The Carrboro Hampton Inn runs at 77% occupancy compared to the CHOCVB reported average hotel occupancy for the County at 57.3%. The Town is now also collecting revenues from online booking companies including AirBnB. Attachment 1 is the Annual Audit for the TDA for FY 14-15. Attachment 2 is current year budget status as of December 2015.
Highlights from the past year include funding for 12 community events including 2 Cat’s Cradle Concerts that drew over 4000 people for each event; funding for Town signature events and the new Freight Train Blues Music series; collaborating with the Carrboro Business Alliance to fund seasonal promotions like Summer Harvest Sale and Carrboro Cheer; worked with Splinter Group to develop and execute a media plan; created collateral material and swag for conferences and promotional opportunities; updated the “For Visitors” section of the Town website to improve ease of use, organization, and appearance; and increased funding for leasing parking from 300 East Main parking deck. Attachment 3 is a list of events and promotions funding levels and Attachment 4 are highlights from final reports submitted by grantees.
In 2016, the TDA has voted to provide $10,000 in funding for the Bee Mural on Fire Station 1, create a mural grant fund available to Carrboro businesses, update and reprint Carrboro Downtown Maps, hire a photographer for professional photos for marketing and promotions, fund a wayfinding study and continue support of community events, media marketing and promotion, and support for the Carrboro business community.
FISCAL & STAFF IMPACT: The TDA is supported by a 3% hotel occupancy tax.
RECOMMENDATION:r Staff recommends the Board consider accepting the report and provide feedback on upcoming budgeting considerations.