11 - Hotel Occupancy Tax Agreement Amendment No. 1

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BUDGET: Based on our current account balance that has accrued since the signing of the original 2016 agreement, this amendment would provide access to approximately $406,000 of HOT funds for eligible projects with no special restrictions limiting the funds to administrative costs. The intent, though not a limitation, of this amendment is to use the funding the City retains on eligible costs that improve public property (ex: Lake Crook). OPTIONS: 1. Approve the adoption of Amendment No. 1 to the Hotel Occupancy Tax Agreement with the Lamar County Chamber of Commerce. 2. Opt to leave the Hotel Occupancy Tax Agreement with the Lamar County Chamber of Commerce as written and do not adopt Amendment No. 1. RECOMMENDATION: 1. Approve the adoption of Amendment No. 1 to the Hotel Occupancy Tax Agreement with the Lamar County Chamber of Commerce.