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Item No. 18 <br />memorandum <br />TO: Mayor & City Council <br />FROM: John Godwin, City Manager <br />SUBJECT: LCC & VCC BUDGETS <br />DATE: August 21, 2017 <br />BACKGROUND: The bylaws of both the Love Civic Center and the Visitors and Convention <br />Council, since they receive funding from the city's Hotel Occupancy Tax (HOT), require that <br />their annual budgets be presented to and approved by the city council each summer. Lamar <br />County Chamber of Commerce President Ken Higdon presented their board's recommended <br />budget at the August 14 council meeting. <br />STATUS OF ISSUE: The council asked for more information to be presented at or prior to the <br />August 28 meeting, at which time Mr. Higdon will again be available to explain increases and <br />other changes, and also to answer council questions /concerns. <br />BUDGET: Funding is from the 7% Hotel Occupancy Tax (HOT), plus certain operating <br />revenues. <br />RECOMMENDATION: Approve chamber requested budgets. <br />