City leaders anticipate final approval for a new hotel tax, which could generate over $7 million annually to support homelessness services and marketing efforts.
The proposed TPID tax requires a 60% agreement among eligible hotels, and currently, hotels comprising 78% of the assessed value have committed.
This initiative is the result of a complex funding arrangement necessitated by recent state laws that limit direct access to TPID funds for services.
Council members Ryan Alter and Vanessa Fuentes played a key role in negotiating the agreement, aiming to support the homeless population through funding.
#hotel-tax #homelessness-services #public-improvement-district #austin-city-council #local-government-funding
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