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With apologies, I hasten to correct a mistake in
confusing the information for the TID with the information for the TOT. My
original understanding was that while the TOT was paid to the City, a
portion went to the County. However, it is the TID that is shared,
not the TOT.
That means that the City would actually receive
about $1,421,310 TOT at the rates proposed for Doumani's hotel. As a
comparison, as of June, 2013, 10 hotels paid TOT to St. Helena in 2013,
totaling $1,612,399. So this could be a very profitable hotel if the
market is there. However, it is still difficult to see how one hotel would
generate $1.9 million to $2.2 million per year as promised.
See a more complete documentation of the TID & TOT
and the hotels reporting.
Here is the corrected pdf.
Again, apologies for my oversight. I know
getting it right is of utmost importance.
Sandy
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