TITLE: Title
Carrboro Tourism Development Authority (CTDA) FY2021-22 Report
PURPOSE: The purpose of the agenda item is for the Town Council to receive a summary of the CTDA activities and the FY2021-22 Budget.
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DEPARTMENT: Economic Development
CONTACT INFORMATION: Jon Hartman-Brown, Economic Development Director 918-7318; Arche McAdoo, Finance Director 918-7439; Cary McNallan, Budget Analyst 918-7301
INFORMATION: The CTDA met on May 3, 2021 and adopted their FY2021-22 budget. The Town Council requires the CTDA to provide a summary of their budget. The CTDA has the authority to set their budget and the Town Council is not required to approve the budget. Don Strickland, the CTDA Chair, will provide a brief presentation to the Council on their activities. The CTDA’s FY22 budget is attached to this agenda item.
FISCAL & STAFF IMPACT: The Town of Carrboro receives the hotel/motel taxes and forwards 97% of those collections to the CTDA, which are estimated to be $100,000 for FY22.
RECOMMENDATION:r Staff recommends that the Council accept the CTDA’s report and FY22 budget.