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CC 2024-04-23_10a AGTBID Public Hearing Budget ApprovalArroyo Grande Tourism Improvement District Annual Assessment & Budget Approval for FY 2024-25 4/23/2024 1 Background 4/23/2024 AGTBID established in 2013 to promote lodging businesses Funded through 2% assessment on lodging stays Administered by the City of Arroyo Grande Assessments reviewed annually per AGMC Preliminary Budget for FY 2024-25 2 4/23/2024 Proposal of FY 2024-25 Budget Budget recommendations by AGTBID Advisory Board Proposed FY 2024-25 budget to total $500,500 Proposed budget to increase in the following categories: $50,000 increase in Marketing Services $10,000 increase in Photo/Video Assets $35,000 increase in Co-Op Advertising $80,000 increase in Event Sponsorship $10,000 increase in new line item for Influencers $10,000 reduction in Merchandise 3 4/23/2024 Proposed Budget FY 2024-25 4 4/23/2024 Consider all protests for AGTBID Assessment If protests are less than 50% of the annual assessment, adopt a Resolution to collect assessments for FY 2024-25 If protests are greater than 50% of the annual assessment, no further proceedings to continue the levy of assessments shall take place Adopt a Resolution approving the FY 2024-25 Budget Recommendations 5