Hotel Occupancy Tax (HOT) receipts are distributed as authorized in Chapter 351 of the Texas Tax Code, as directed by the City Council. The total revenue projected for FY 2023-24 is $9.4 million, an increase of $676.1 thousand.
The FY 2023-24 Operating Budget includes changes to the FY 2022-23 allocation as follows:
• Civic Center Operations and Marketing allocation increased from $2.60 million to $2.61 million, an increase of $19,934.
• Buddy and Maria Elena Holly Plaza debt service allocation increased from $88 thousand to $89.4 thousand, an increase of $1,375.
• The allocation to the North Overton TIF - Conference Center increased from $358.8 thousand to $446.6 thousand, an increase of $87,744.
• The allocation Transfer to CIP - Civic Center increased from $268.7 thousand to $415.7 thousand, an increase of $147,049.
• The allocation to Civic Lubbock - Art Grants increased from $516.6 thousand to $556.6, an increase of $40,033.
• A new allocation is included in this year for Tournament Ball Fields at $379,965
.Budgeted expenditures have increased $676.1 thousand from the prior year budget for FY 2023-24.
| Entity |
Amount |
| Civic Center Operations/Marketing |
$ 2,609,010 |
| Convention and Tourism Bureau |
3,697,485 |
| Visiting Participatory and Spectator Sports Marketing |
1,205,294 |
| North Overton TIF Conference Center Debt Service |
446,568 |
| Buddy and Maria Elena Holly Plaza Debt Service |
89,375 |
| Civic Lubbock, Inc. |
556,593 |
| Transfer to HOT Capital Project - Ball Fields |
379,965 |
| Transfer to Civic Center CIP |
415,710 |
| Total |
$ 9,400,000 |
|
