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RESOLUTION NO. R-1415-25: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, APPROPRIATING $50,000 FROM THE ROOM TAX FUND BALANCE TO BE USED BY THE NORMAN CONVENTION AND VISITOR'S BUREAU, INC., (NCVB) TO HIRE A CONSULTANT TO PREPARE A FEASIBILITY STUDY FOR AN EXPOSITION CENTER IN THE CITY OF NORMAN.
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BACKGROUND: Pursuant to the Norman City Code, Section 8-521 (et. Seq.), the City Council has established a policy whereby room tax collections are distributed to three organizations to further the aims of the Transient Guest (Hotel/Motel) Room Tax: the Norman Convention and Visitors Bureau (NCVB) (50%); the Parks Department for parks capital improvement projects (25%); and the Norman Arts Council (25%). On May 25, 1993, the Council approved contract K-9293-136 with the Norman Convention and Visitors Bureau (NCVB) to administer the portion of the room tax used to attract conventions and other meetings, and to promote visitation of Norman.
As of June 30, 2014, the convention and tourism portion of the Room Tax had an estimated fund balance of $209,010. Assuming that eight percent (8%) of projected allocations are held in reserve (as is the policy for most City funds), and after a previously-approved appropriation for expenses related to the relocation of the NCVB offices, approximately $91,000 is available in "excess" reserves for NCVB expenditures.
DISCUSSION: NCVB Executive Director Dan Schemm presented a proposal for a feasibility study for an Exposition Center in Norman at the Council Study Session on September 2, 2014. Based on the discussion with Council, and as discussed in the attached letter from Mr. Schemm, the NCVB Board of Directors has requested the appropriation of $50,000 of available Room Tax Fund balance for a feasibility study of an Exposition Center for Norman.
If approved, NCVB will move forward with contracting for the feasibility study, reporting the results of the study back to the City Council after its...
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