Resort Tax Monitoring Committee

Resort Tax Monitoring Committee City Hall – Whitefish Room (2nd Floor) Wednesday, August 26, 2020, 7:05 a.m. • Call to Order. • Review and approve minutes for July 22, 2020. • Review the financial report for June 2020 Resort Tax. • Update on Streets Projects. • Update on Parks Projects. • Discussion Item - Resort Tax Renewal/City Council Session at end of September • Other Items. • Set next meeting date. Members Andy Feury Doug Reed Ken Stein Chris Schustrom Julia Olivares Trek Stephens Brian Averill A. Property tax reduction for taxpayers residing in the city in an amount equal to twenty five percent (25%) of the three percent (3%) resort tax revenues derived during the preceding fiscal year; B. Provision for the repair and improvement of existing streets, storm sewers, all underground utilities, sidewalks, curbs and gutters, in an amount equal to sixty five percent (65%) of the two percent (2%) resort tax revenues derived during the preceding fiscal year; C. Bicycle paths and other park capital improvements in an amount equal to five percent (5%) of the two percent (2%) resort tax revenues derived during the preceding fiscal year; D. Repayment of a loan or a bond to finance a portion of the costs of, or to otherwise pay for, the acquisition of the conservation easement or other interests, in and around Haskill Basin in order to protect and preserve water quality and quantity, including the source drinking water supply for the municipal water system of the city of Whitefish, in an amount equal to seventy percent (70%) of the one percent (1%) resort tax revenues to be received in a fiscal year, except that if such portion of resort tax revenues received in a fiscal year is more than is needed in that fiscal year for such loan or bond, the excess will be applied to additional property tax relief in the next fiscal year; E. Cost of administering the resort tax in an amount equal to five percent (5%) of the three percent (3%) resort tax per year.