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PTC to give tourism association $35K towards shortfallWed, 08/20/2008 - 9:39am
By: John Munford
An agreement has been drafted for Peachtree City to pay $35,000 to the city's Tourism Association to help cover an expected year-end shortfall of $82,000. The agreement is due to be voted on Thursday night by the City Council; it was added to the council's agenda in a notice sent late Tuesday afternoon. The $35,000 would come from the city's share of hotel motel tax revenues, according to the proposal. City finance staff, in a memo to council, noted that the city's hotel motel tax revenues will likely end the year about $41,000 ahead of projections. In a memo to the Tourism Association, executive director Lauren Yawn said the shortfall is due to a decline in revenue, not an increase in spending. The association, which operates the amphitheater and tennis center for the city, is projecting a $236,000 loss this year for the amphitheater but a $3,700 profit for the tennis center. Meanwhile officials are proposing next year's budget with a dramatic shift in the concert series: while there would still be 10 acts, they would only play one night instead of the current two weekend shows. Should that course of action be adopted, the association is predicting a drop in ticket sales revenues and sponsorship money. But the change would also trim more than $730,000 compared to the amphitheater's current budget. Two-thirds of the city's hotel motel tax already goes to the tourism association, although 20 percent of the association's revenue is passed on to the city's airport authority. login to post comments
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