While there is ongoing debate about whether tourism benefits our region, the fact is that our local economy depends on tourism. Tourism keeps many local businesses open, provides career and other employment opportunities for many local residents, and generates TOT and TBID funds that communities can reinvest in needed programs, services, and infrastructure improvements. Masu.
Since early 2022, the NTCA has focused on establishing a framework and process to enable the reinvestment of tourism-generated funds, with local oversight. Ultimately, the funds generated by TOT and TBID will help our community advance workforce housing initiatives, transportation and infrastructure projects, and help reduce some of the tourism-related impacts felt by the people who live and work here. can alleviate and improve our quality of life. all.
With significant community involvement and the continued participation of a dedicated volunteer committee, we can report that a process to reinvest tourism funds has been instituted to ensure tourism is giving back in a significant way. I am very happy. In fact, with the relatively recent creation of the North Lake Tahoe Tourism Improvement District (NLT-TBID), the region is now able to allocate more tourism dollars to community priorities than ever before.
In April, the NTCA Board of Directors voted to invest a total of $4.3 million in tourism-generated funds, following recommendations convened by a volunteer committee of local businesses and community members. Through the TOT-TBID Dollars At Work program’s annual grant cycle, 13 projects that will benefit the North Lake Tahoe community have been recommended for grant funding. This investment will provide access to more than $6.3 million in matching funds, with total investments including specific workforce housing projects, trail and recreation improvements, litter cleanup, accessibility, and business incubator initiatives. Over $10 million.
Projects funded through the annual grant cycle will be added to the 17 projects selected in fall 2023 to receive up to $20 million in funding over three years through sponsorship and multi-year investment programs. The impact of sponsored-funded projects will be felt through workforce housing, trail transportation corridors, transportation and tourism impact initiatives, with the potential to earn up to $35.3 million in matching funds to leverage over the next three years there is.
There is no doubt that the TOT-TBID Dollars At Work program does exactly what it is designed to do. It provides communities with a systematic way to reinvest TBID and TOT dollars generated in North Lake Tahoe to support initiatives that contribute to community vitality, economic health, and environmental stewardship. I’ve been doing it. These funds are actively used to address priorities that have emerged through community forums, workshops, and surveys, including workforce housing, economic development, transportation, sustainability, tourism mitigation, and trails.
This is just the beginning. The first annual grant cycle is now complete and we are already looking ahead to the next grant cycle starting in early fall 2024. Tourism dollars are spent improving what matters most to North Lake Tahoe residents, businesses and visitors.
Find out more about tourism-funded projects and initiatives here.
Tony Karwowski is the president and CEO of the North Tahoe Community Alliance.
