Hotel Occupancy Tax and American Rescue Plan Act June update

Arts Commission – June 30, 2021

Hotel Occupancy Tax and American Rescue Plan Act June update — original pdf

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Hotel Occupancy Tax and American Rescue Plan Act Update Sylnovia Holt Rabb, Deputy Director Economic Development Department June 30, 2021 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 1 Hotel Occupancy Tax – Collection through May Tfr to Cultural Arts Fund Approved Budget 7,790,403 Amended Budget 7,790,403 May w/Encumb 104,345 Year-to-date w/Encumb 3,003,422 Year-End Estimate 4,296,896 Variance % Variance Fav(Unfav) Fav(Unfav) 44.8% 3,493,507 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 2 American Rescue Plan Act Spending Framework Council Resolution No. 20210610-077 established the City of Austin’s American Rescue Plan Act (ARPA) Spending Framework. The $263.5 million spending plan allocates funds to multiple items grouped into seven categories: Health ($46.3 million), Homelessness ($106.7 million), Economic Development ($32 million), Resilience ($6 million), Creative Sector ($12 million), Emergency Relief ($42 million), and Contingency ($18.5 million). Services and Ac(cid:415)vi(cid:415)es Homelessness Public Health(cid:3031) Colony Park Sustainable Community Community Navigators Childcare / Early Childhood(cid:3031) Workforce Development Resilience Crea(cid:415)ve Sector Relief Emergency Assistance for Individuals Contingency(cid:3031) Approved Funding $106.7M $44.3M $1.5M $0.5M $11.0M $21.0M $6.0M $12.0M $42.0M $18.5M TOTAL INVESTMENT $263.5M C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 3 American Rescue Plan Act Spending Framework – Creative Sector - $13 million investment Services and Ac(cid:415)vi(cid:415)es Approved Funding Creative Non-Proﬁt Emergency Relief (Arts/Music) Arts Ecosystem Music Ecosystem TOTAL INVESTMENT REQUIRED Services and Ac(cid:415)vi(cid:415)es General Workforce Development(cid:3031) Aus(cid:415)n Civilian Conserva(cid:415)on Corps Aus(cid:415)n Civilian Conserva(cid:415)on Corps (Homeless and/or Crea(cid:415)ve Sector Focus) TOTAL INVESTMENT REQUIRED $21.0M $2.0M $6.0M $4.0M $12.0M Approved Funding $15.0M $5.0M $1.0M C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 4 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 5