Yarmouth committee reviews tourism revenue fund, FY27 allocations and project pipeline

The Town of Yarmouth’s newly formed Community and Economic Development Committee convened for its first meeting, selected officers and reviewed the town’s tourism revenue preservation fund and planned spending for FY27.

Megan Eldridge, the town’s director of community development, said the committee is charged with broadening the town’s economic base and allocating the tourism fund — revenue derived from rooms and meals taxes — to projects that benefit residents and visitors. Eldridge told members the FY27 tourism-fund allocation listed in the meeting packet was $564,264 and explained the committee’s five “buckets” of spending: special events, marketing/visitor services, public improvements, economic development projects and personnel. She noted the fund is distinct from the town’s residential tax base and that 20–40% of the fund must be used for public improvements.

The packet lists the FY27 distribution as: special events (150,264), marketing/visitor services (205), public improvements (130), economic development projects (40,000) and personnel (40,000). Eldridge cautioned there is a one-year lag in tax receipts reporting, so current budget estimates reflect prior-year collections and may change when the next receipts post.

Members discussed recent projects funded by the tourism fund. Eldridge cited Station A playground ($50,000), senior-center beautification, interpretive and historic markers, and the nearly completed Parker’s River Landing work, including fencing and irrigation paid in part with rolled-over funds. She said about $214,000 from prior years and unused study funds (including a $55,000 wayfinding study) were reallocated to priority public improvements.

On staffing, Eldridge said the town has an approved job description for a new economic development coordinator/manager to be funded 50% from the tourism fund and 50% from the operating budget; HR will advertise the vacancy. She said any unspent tourism funds roll into the next year’s balance.

The committee heard that the town’s marketing contract is held by the Yarmouth Chamber of Commerce for the calendar year and was funded in the packet at $150,000. Members also discussed rising event costs — described as roughly a 40% increase since 2020 because of higher public-safety and production expenses — and how that trend affects awards to event organizers.

Eldridge outlined application and procurement processes: event and grant applications typically are solicited in October–November; public-improvement proposals are routed from town departments; and marketing contracts over the procurement threshold require public bidding and may be renewed for up to two additional years.

Members agreed to draft two to three goals for the remainder of the calendar year, review past annual reports and the select board’s goals, and keep meeting packets and minutes current. Eldridge said she has contracted to bring outstanding minutes up to date and will provide a packet and agenda to members before posting.

The committee’s next steps include refining FY27 internal admin-line allocations for finance (salary, advertising, legal notices), moving forward with the economic development hire, and continuing project-level planning for Parker’s River Landing and contemplated wayfinding improvements.

The committee adjourned after completing the agenda and setting meeting cadence.