How does the TDF differ from the City’s Capital Improvement Plan (CIP)?
  • The Capital Improvement Program (CIP) is a 5-year plan of municipal projects that exceed $10,000 dollars in value and have a useful life of at least 5 years.
  • The Tourism Development Fund (TDF) will function like the CIP in that it will include a 5-year plan of action which will enable projects to receive funding over multiple years.
  • The biggest difference between the CIP and the TDF proposal is that the TDF is a grant program and the CIP funds only city projects.
  • The CIP is funded through general revenues of the City while the TDF fund revenues would be restricted for its use.
  • The need for a separate process is based on the desire to reserve these new revenues explicitly for the use of the TDF projects.

Show All Answers

1. Why do we need a Tourism Development Fund (TDF)?
2. What types of projects could be funded by the TDF?
3. How much would taxes increase if the TDF is approved?
4. Why can’t the City fund the TDF using existing revenues?
5. Is anyone able to apply for funding?
6. How would the TDF money be distributed?
7. Why does the City have to fund the projects?
8. How did City Council decide on a Tourism Development Fund?
9. Will unspent TDF money rollover into the next year?
10. How does the TDF differ from the City’s Capital Improvement Plan (CIP)?
11. Where has a TDF been successful in a similar market to ours?
12. How will we determine the success of the TDF?