Agenda Item Title:
Approve Resolution 2018-028, A Resolution to Add the Staybridge Suites to the City of Rapid City’s Business Improvement District No. 1
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
03/28/2018
City Council Hearing Date:
04/02/2018
Staff Contact:
Wade Nyberg
Agenda Item Summary:
This Resolution would add the Staybridge Suites to Business Improvement District No. 1, also known as the Hotel BID. State law provides for this method to add new, non-contiguous properties to a district. The Hotel BID was created in 2006 for the purpose of marketing and promoting Rapid City and the hotels and motels located within the District. Revenue for the District is raised through a $2 per room per night occupancy tax. Visit Rapid City (formerly the Convention & Visitors Bureau) receives the revenue raised, less administrative expenses, and expenditures for marketing and promotion are overseen by the Hotel BID Board.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve