The Placer County Board of Supervisors voted to continue its investment in eastern Placer County’s economy by signing a contract with the North Lake Tahoe Resort Association (NLTRA) to support local businesses and promote responsible tourism, with additional funds going to transportation, housing and tourism mitigation.
The board authorized a roughly $4.2 million yearly contract with the NLTRA to sustain the tourism-based economy of North Lake Tahoe year-round and guarantee wide community participation while prioritizing initiatives in line with the Placer County Tourism Master Plan.
The North Lake Tahoe Business Community established the Tourism Business Improvement District (TBID) to support NLTRA initiatives. This decision was unanimously approved by the Placer County Board of Supervisors. Customers will be charged a 1% to 2% business assessment at the time of the transaction, and companies will begin collecting the assessment on July 1.
Because companies inside the TBID limits will not start collecting assessments until July, the resort association will continue to rely on transient occupancy tax (TOT) money until TBID earnings are adequate to pay those expenditures.
The difference between the annual budgeted amount and the TBID’s expected expenditures will be termed freed-up TOT money, which will be utilized for worker housing and transportation initiatives. The freed-up TOT revenues are estimated to be around $848,500 in the coming financial year.
Tourism is the county’s principal source of income, per the North Lake Tahoe Tourism Master Plan. North Lake Tahoe attracts approximately $800 million in annual visitor spending. Tourism is responsible for more than 60% of local employment and 51% of total revenues.
The work of the NLTRA focuses on responsible economic and tourist operations. Marketing, sales, public relations, events and tourism services are among the association’s specialization pillars. As one of two destination management groups for North Lake Tahoe, they are focusing on shoulder-season tourism in order to attract people during all four seasons and, as a result, sustain the local business community year-round.
The committee also authorized $215,000 in TOT funding to support visitor mitigation measures and services requested by the NLTRA Board of Directors. Improved pedestrian crossings on the west coast, a temporary traffic light at Grove Street and State Route 28 and bathrooms on Donner Summit are among the amenities.