The Governor’s Office of Economic Opportunity (GOEO) will administer the Hotel Impact Mitigation Fund to allow a qualified hotel to enter into a contract to pursue a claim for loss of income.
Donor Name: Governor’s Office of Economic Opportunity
State: Utah
County: All Counties
Type of Grant: Grant
Deadline: Ongoing
Details:
Qualifications
- Must be a hotel built in Utah before July 1, 2014
- Able to demonstrate consistent and measurable sources of income for the following:
- 12-month period of Oct. 1, 2018, to Sept. 30, 2019
- 12-month period of Oct. 1 to Sept. 30 in future calendar years in which the affected hotel will claim losses
- Senior management attests to the accuracy of information
- Has not ceased operations during the application period
To apply for a claim
- Affected hotels may file a claim after entering into a contract and written approval of a baseline. Applicants will be provided a portal to file a claim in October of the same year.
- Calculation of claims:
- The claim amount is calculated by comparing income from the base year, Oct. 1, 2018, to Sept. 30, 2019, to the same 12-month period for years 2023 to 2026.
- Any additional funds not claimed in this annual process, and 5% of sales tax revenue generated from the hotel, will go toward the Stay Another Day and Bounce Back funds to pay for the state’s tourism advertising, marketing, and branding.
- Standards for baseline and claim:
- Companies are encouraged but not required to have information reviewed by a Certified Public Accountant. Attestation of complete and accurate information is required from hotel Senior Management for baseline and claim submission.
For more information, visit GOEO.
