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Sarasota News Leader June 28, 2013 Page 47 THE PROPOSED GRANTS PROGRAM On May 1, Haley pointed out, 12.5 percent of the revenue from one penny of the 5-cent Tourist Development Tax (TDT) had become available for use in new tourism promotion. That funding stream is expected to produce about $350,000 to $400,000 per year, she pointed out. A couple of years ago, in anticipation of that revenue's availability, she continued, Visit Sarasota County (VSC) staff and its board began pondering how best to utilize the money. During a trip to Asheville, NC — VSC's first inter-city trip to pursue tourism-related ideas — VSC representatives learned how that city Visit Sarasota County President Virginia Hawas able to boost its visitor revenue by deley addresses the County Commission in May. veloping new tourism capital projects. "And Photo by Norman Schimmel we really thought that was a missing link" for Moreover, Haley pointed out, the program Sarasota County, Haley added. guidelines would make it very clear that if a Visit Sarasota County representatives dis- group won funding for an event that ultimatecussed that concept further with the TDC ly was cancelled, the money would have to be members in April, Haley reminded them, and returned to VSC. Any group should be wise won their approval to move forward with it. enough to buy event insurance, she noted. Additional discussions with community residents revealed a desire that the program be One important factor in considering funding broadened to include funding for new or ex- a new event would be its scheduling, Haley panded events as well as capital projects, Ha- pointed out, with preference given to activiley explained. ties offered "when we really need a boost in tourism." If the decision is made to include funding of new events in the program, she added, Additionally, applicants "would have to her staff and board recommend such events demonstrate that [the event] does not replireceive a maximum of $50,000 per year for cate something that is already in the county." two years. In other words, the most a new event could get from the program would be For example, she said, Longboat Key could $100,000, she said, and the funds could cover not seek funding for a shark tooth festival, because Venice already hosts such an annual no more than half the total budget for it.