In December 2018, The Huntington Beach City Council unanimously approved the renewal of the Huntington Beach Tourism Business Improvement District (HBTBID) for another nine-and-a-half-year term!
This was not just another renewal. Visit Huntington Beach (VHB), the HBTBID’s Owners’ Association, was originally funded by both the HBTBID and the City. Now, VHB is voluntarily stepping forward to help the City with future budgetary concerns. VHB is giving back its share of tax money collected by the City, which will be offset by increasing the HBTBID assessment rate from 3% to 4%. Due to this change, the City is expected to realize an additional $13M-$15M in revenue over the next decade.
Assessed lodging businesses benefit from an ongoing ability to promote overnight visitation to their seaside community, together with strategic reduced reliance on public tax dollars. A positive public-private partnership and the responsive structure of a TBID yield special solutions for Huntington Beach.
