Professional Documents
Culture Documents
Purpose
Provide the Economic Development Committee with a brief overview of the Tourism Public Improvement District (TPID) and its role in making Dallas a Top 5 tourism destination. Request approval for Council action on the following items
May 23, 2012 - Call public hearings to be held on June 13, 2012 to consider creation of the TPID & set TPID assessment rate June 13, 2012 - Hold public hearings and consider creation of the TPID & set TPID assessment rate
Office of Economic Development www.dallas-ecodev.org
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Public Improvement Districts (PIDs) are locally created districts that can be used to fund physical improvements or additional services within a defined area. Property owners pay a special annual assessment used to fund eligible PID expenditures The City of Dallas currently has nine PIDs located throughout the City:
Deep Ellum PID DID Dallas Downtown Improvement District Knox Street PID Lake Highlands PID Oak Lawn Hi Line PID Prestonwood PID Southside PID Uptown PID and Vickery Meadow PID
Composed solely of hotels of 100 rooms or more. Primary focus is attracting conventions and group meetings. Allowed to fund any item provided by state law. Tourism PID would be the Citys first Special Purpose PID and first non-contiguous property PID.
Office of Economic Development www.dallas-ecodev.org
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The estimated annual budget of TPID will average $11.2M to be used for marketing and incentives for convention attraction
Office of Economic Development www.dallas-ecodev.org
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New hotels may only be added to TPID upon renewal The TPID Board of Directors and the Hotel Association of North Texas have agreed not to oppose City utilizing provisions of Brimer Bill to fund other eligible venues in future (see Appendix D)
Office of Economic Development www.dallas-ecodev.org
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TPID will submit quarterly financial statements reviewed by City staff. Annual, independently audited, financial statements submitted to City staff for review.
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Benefits to DCVB
TPID will provide an average additional $11.2M in funds annually that can be utilized to further DCVB mission
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Benefits to Hotels
Improved convention business will increase room occupancy and rates in all hotels Improved perception of Dallas as a tourism destination may increase the duration of visitor stays Increased Hotel Occupancy Tax revenue can lead to additional Convention Center improvements, and an increased level of marketing of Dallas as a Tourism Destination
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Pending Items
City Council Agenda May 23, 2012
Call a Public Hearing for creation of the Tourism PID Call a Public Hearing to set Tourism PID assessment rate
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SHERATON DALLAS HILTON ANATOLE HOTEL HYATT REGENCY DALLAS OMNI DALLAS HOTEL RENAISSANCE DALLAS HOTEL FAIRMONT DALLAS WESTIN PARK CENTRAL HOTEL HILTON DALLAS LINCOLN CTR WESTIN GALERIA DALLAS ADOLPHUS HOTEL BUDGET SUITES OF AMERICA DALLAS MARRIOTT CITY CENTER STERLING HOTEL DALLAS CROWNE PLAZA HOTEL DALLAS MKT CNTR BUDGET SUITES OF AMERICA TX RADISSON DALLAS LOVE FIELD HOTEL MAGNOLIA HOTEL (THE) CROWNE PLAZA DOWNTOWN DALLAS DOUBLETREE HOTEL CAMPBELL CENTER RADISSON HOTEL-DALLAS CROWNE PLAZA SUITES #15517 BUDGET SUITES OF AMERICA EMBASSY SUITES DALLAS MARRIOTT SUITES
400 2201 300 555 2222 1717 12720 5410 13340 1321 8150 650 1055 7050 9519 1241 1401 1015 8250 6060 7800 10222 13131 2493
N OLIVE ST N STEMMONS FWY REUNION BLVD LAMAR N STEMMONS FWY N. AKARD STREET MERIT DR LBJ FREEWAY DALLAS PKWY COMMERCE ST N STEMMONS FWY N PEARL ST REGAL ROW N STEMMONS FWY FOREST LN W MOCKINGBIRD LN COMMERCE ST ELM ST N CENTRAL EXPY N CENTRAL EXPY ALPHA RD N WALTON WALKER BLVD N CENTRAL EXPY STEMMONS FWY
1840 1620 1194 1001 556 545 545 500 432 421 408 407 360 354 348 348 330 304 300 300 295 282 279 266
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