A. Revenues shall be used only for programs which promote overnight tourism and improve the lodging business environment. Programs shall be designed to benefit hotels paying the assessment. Programs may include:
1. Internet, radio, television, and print advertising;
2. Branding efforts;
3. Sales promotions;
4. Sponsorship of special events which attract out-of-town visitors; and
5. Other programs designed to increase overnight stays at hotels.
B. Revenues shall be forwarded to and managed by a comprehensive destination marketing organization operating inPortland, which shall be the Management Corporation. The Management Corporation shall:
1. Prepare and submit to the City, and make available to lodging businesses, an annual report on expenditures and activities;
2. Manage funds in accordance with the provisions of this Chapter;
3. Not be considered a public entity for any purpose; nor shall its Board members be considered public officials for any purpose; and
4. Enter into an Agreement with the City relative to management of district funds.
C. The Portland Tourism Improvement District is intended to provide supplemental funding for marketing programs above and beyond those currently provided. TID funds shall supplement the existing funding of 1 percent of transient lodging tax dedicated to promotion, solicitation, procurement and service of convention business and tourism in the City.