TITLE
Title
RESOLUTION APPROVING AMENDING THE CONVENTION/TOURISM PROMOTION BUDGET AND APPROVING EXPENDITURES FROM A PORTION OF THE SEVENTY PERCENT (70%) NET PROCEEDS OF THE OCCUPANCY TAX RECEIVED BY THE GREENSBORO/GUILFORD COUNTY TOURISM DEVELOPMENT AUTHORITY FROM THE ORIGINAL GUILFORD COUNTY THREE PERCENT (3%) ROOM OCCUPANCY TAX FOR THE ADDITION OF DRY-LAND TRAINING SPACE AT THE GREENSBORO AQUATICS CENTER
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SPONSOR
Sponsor
Tony Cordo, President/CEO of the Greensboro/Guilford County Tourism Development Authority
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BACKGROUND
Background
The Greensboro/Guilford County Tourism Development Authority (TDA) is requesting approval of an amendment to its FY 2026-27 budget to appropriate available fund balance for the development of a 4,200-square-foot dry-land training facility at the Greensboro Aquatic Center (GAC). The proposed project would be funded with existing Tourism Development Authority resources; no Guilford County General Fund dollars are required.
Under S.L. 1989-39, the Greensboro/Guilford County Tourism Development Authority is a public authority subject to the Local Government Budget and Fiscal Control Act. The legislation requires the Authority to submit its annual budget to the Guilford County Board of Commissioners for approval prior to adoption.
The proposed dry-land training facility would provide dedicated space for strength, conditioning, mobility, and other land-based training activities that complement aquatic training and competition. According to information provided in support of the project, the facility would also allow the GAC to meet facility requirements associated with certain competitive events for which it is not currently eligible to bid. This could expand the GAC's ability to pursue additional national and international swimming and diving competitions and further strengthen Greensboro's position as a sports-tourism destination. The GAC already hosts a significant portfolio of collegiate and national aquatic events and is recognized as one of the nation's leading aquatic competition facilities.
The Authority estimates that events made possible or more competitive through the addition of the dry-land training facility could generate approximately $59.2 million in additional economic impact. This estimate represents the potential economic activity associated with future events that the GAC could pursue.
The proposed funding would come from accumulated fund balance associated with Convention/Tourism Marketing activities. The TDA's adopted FY 2026-27 budget document projected a June 30, 2026 Convention/Tourism Marketing fund balance of approximately $8.6 million, including approximately $6.9 million in unassigned fund balance after accounting for minimum working capital, statutory restrictions, and amounts assigned for the subsequent year's budget.
The Tourism Development Authority approved the proposed expenditure and related FY 2026-27 budget amendment, contingent upon the required approvals of the Guilford County Board of Commissioners and Greensboro City Council. The amendment is anticipated to be considered by Greensboro City Council on October 6, 2026.
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RESOLUTION
Resolution
WHEREAS, in 1989 the General Assembly amended an act permitting Guilford County to levy a three percent (3%) room occupancy and tourism development tax;
WHEREAS, there is an approved occupancy tax levy on all tourism/hotel revenue. Eighty percent of the total occupancy tax levy is designated as Tourism Promotion proceeds.
WHEREAS, seventy percent (70%) of the Tourism Promotion proceeds are allocated to Greensboro/Guilford County Tourism Development Authority and the remaining thirty percent (30%) goes to the City of High Point;
WHEREAS, in the opinion of the Greensboro/Guilford County Tourism Development Authority, existing Convention/Tourism Promotion Fund Balance, not to exceed $2,800,000 in this fund, should be expended for a dry-land training space at the Greensboro Aquatics Center;
1. That a $2,800,000 expenditure for the addition of a dry-land training space at the Greensboro Aquatics Center will be made from the convention/tourism promotion fund in the fiscal year 2026-2027;
WHEREAS, by law, the approval of such expenditures shall be a joint decision by the Greensboro City Council, the County Commissioners and the Greensboro/Guilford County Tourism Development Authority.
NOW, THEREFORE, BE IT RESOLVED BY THE BY THE GUILFORD COUNTY COMMISSIONERS:
1. Approve amendment to the Greensboro/Guilford County Tourism Development Authority FY 2026-2027 budget to appropriate unassigned convention/tourism promotion fund balance for a dry-land training space at the Greensboro Aquatics Center in the amount of $2,800,000.
That the Authority is authorized to enter into a Memorandum of Understanding with the Greensboro City Manager to implement the above mentioned improvements. All transactions pursuant to this resolution shall be undertaken in strict compliance with applicable laws and this approval subject to applicable laws.
ADOPTED this the 17th day of September, 2026.
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REQUESTED ACTION
Requested Action
Approve amendment to the Greensboro/Guilford County Tourism Development Authority FY 2026-2027 budget to appropriate unassigned convention/tourism promotion fund balance for a dry-land training space at the Greensboro Aquatics Center in the amount of $2,800,000.
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