The North Tahoe business community has officially passed the Tourism Business Improvement District (TBID), ensuring locally generated funds are governed by local businesses. The Placer County Board of Supervisors is supportive, voting unanimously to move forward with the formation of a district to bolster a year-round economy, offset tourism impacts and support local businesses.
The new TBID could generate up to $7 million of locally controlled funds annually to support infrastructure projects and free up millions in local guest lodging tax revenues for workforce housing and traffic mitigation initiatives.
The differences between TOT and TBID funding structures are critical to understanding the importance of implementing a TBID. Learn more HERE.
Through public outreach and education, the Management District Plan was finalized last fall. For more information, visit: NLTRA.org >> TBID Resources.
While the TBID petition drive has reached the business approval margin to pass,
the NLTRA is still collecting signatures.
