Grants of HOT revenues may statutorily be used only for the promotion of tourism. Expenditure of funds for unauthorized purposes may result in recapture and/or enter into funding decisions in future funding cycles.
If the Applicant fails to submit the follow-up report and/or does not refund the HOT funds required to be refunded by these guidelines within the stated time period, the Applicant may not be considered for funding in any succeeding fiscal year budget.
The City will seek payment of refunds according to law.
All requests, applications and reports will be filed with and administered through the City of Balch Springs Economic Development and Tourism Departments. Copies will be routed to appropriate City staff.
A portion of the revenues from any event and/or project receiving any type of funding assistance from the HOT funds should be channeled back into the future costs of operating that same event or the continued operation of the project. No other outside event(s), project, charity, etc., sponsored by the host organization may profit from the City of Balch Springs funding of a particular event. Priority shall be given to projects and events for which some portion of revenues generated thereby is to be made available for such future purposes.
ADOPTED AND APPROVED ON APRIL 22, 2019. THIS RESOLUTION WILL BECOME EFFECTIVE ON OCTOBER 1, 2019.
CITY OF BALCH SPRINGS
Steven Gorwood, Mayor
ATTEST:
Cindy Gross, City Secretary