Fiscal Note
In April of 2008, the Council amended the Room Tax Fund Operating Budget to permit the expenditure of up to $40,000 for a Downtown Hotel Feasibility Study. Sufficient funds are available in the Room Tax Fund to cover the cost of this study. There is no impact on the tax levy or the Expenditure Restraint Program eligibility as a result of this expenditure.
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Approving the selection of Hunden Strategic Partners to conduct a Downtown Hotel Feasibility Study and authorizing the Mayor and City Clerk to execute an agreement with Hunden Strategic Partners.
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Preamble
By resolution number RES-08-00350, adopted April 8, 2008, the Council authorized the establishment of an ad hoc Downtown Hotel Feasibility Study Committee, whose duties were to oversee requests for a professional analysis of the overall downtown hotel market conditions, and, specifically, the need for another downtown hotel. Earlier this year, the Committee sought proposals for a consultant to conduct a Downtown Hotel Feasibility Study, and received eight responses. After reviewing all of the submitted proposals, the Committee recommends the selection of Hunden Strategic Partners of Chicago, Illinois to conduct such a study.
Now therefore, be it resolved, that the Council approves the selection of Hunden Strategic Partners to conduct a market study on behalf of the City analyzing demand for hotel space, growth potential within the hospitality/convention hotel industry, and site identification of a downtown hotel.
Be it further resolved that the Mayor and City Clerk are hereby authorized to execute an agreement, in an amount not to exceed $40,000, with Hunden Strategic Partners to conduct a Downtown Hotel Feasibility Study.