ITEM TITLE:
Title
Consider approving a resolution amending Resolution 20-59 to adjust the future Hotel/Motel Tax allocations, commencing with Fiscal Year 2021-2022, (with any revisions and/or floor amendments) as deemed appropriate, and consider the continuation or discontinuation of the Council Hotel/Motel Tax Committee and authorize the Mayor and City Clerk to execute the resolution.
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INITIATOR: Michael Cleghorn, City Manager
STAFF INFORMATION SOURCE: Kristin Huntley, Deputy Finance Director
BACKGROUND: On July 29, 2020 Lawton City Council passed Resolution 20-59, which amended a previous Resolution 14-139, the latter of which set forth annual fund allocation of Hotel/Motel Tax collections. The Hotel Motel Tax Council Committee is recommending further amendments to the allocations, to commence with Fiscal Year 2021-2022. The proposed funding formula is attached:
EXHIBIT: Resolution 21-___ Previous Resolution 20-59 (resolution being amended), Hotel/Motel Tax proposed allocation spreadsheet.
KEY ISSUES: NA
FUNDING SOURCE: Hotel/Motel Tax
STAFF RECOMMENDED COUNCIL ACTION: Approve a resolution amending Resolution 20-59 to adjust the future Hotel/Motel Tax allocations, commencing with Fiscal Year 2021-2022, (with any revisions and/or floor amendments) as deemed appropriate, and authorize the Mayor and City Clerk to execute the resolution.