Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Tourism Marketing District Board has nearly $2 million stashed away in reserve account

Board has access to a so-called catastrophe fund.

The feud between Mayor Bob Filner and Jan Goldsmith spilled over in a San Diego Superior court room during a March 5 hearing.

"For the record, your honor I do not have an attorney," Mayor Filner told Judge Timothy Taylor in court, according to NBC reporter Wendy Fry's Twitter feed.

"I feel it's a deep conflict of interest [between] City Attorney and myself. He has stated in front of press that my actions are illegal," added Filner.

And while the question of whether City Attorney Goldsmith will represent Filner in court has not yet been answered, it's safe to say that the Tourism Marketing District does not have any concerns about how to pay for its legal expenses.

The district has access to millions of dollars that it has stashed into a "catastrophe reserve fund" since 2007. According to the published minutes from an August 15 meeting financial report, the Tourism Marketing District had $1.8 in revenues in the "opportunity/catastrophe fund."

That's on top of the additional $72,000 set aside for legal expenses.

"The [Tourism Marketing District] shall annually allocate five percent of its revenue to a marketing opportunity/catastrophe reserve fund for the specific purpose ofmaximizing unique and unforeseen opportunities or reacting to unforeseen situations to positively impact the tourism economy in the San Diego region," reads the district's Five-Year Management Plan.

That's just what was rolled over. In fact, the board has access to the entire reserve account, previously capped at $10 million, now that the first five year contract has expired.

"lf the District is renewed following the initial five (5) year term, the available balance, including interest, of the marketing opportunity/catastrophe reserve fund shall be made available to the Corporation managing the renewed District. These previously accumulated funds shall be spent consistent with the allocations in this plan."

David Nielsen, a spokesperson for the Tourism Marketing District, has not responded to a request for comment on the catastrophe fund and how the district plans to pay for the four lawsuits now in court or whether the fund can pay for lost marketing campaign.

An earlier version of this story had the amount of the catastrophe fund at $1.2 million. That was changed after finding an August 15 document stating that amount was actually at $1.8 million.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Live Five: Rebecca Jade, Stoney B. Blues, Manzanita Blues, Blame Betty, Marujah

Holiday music, blues, rockabilly, and record releases in Carlsbad, San Carlos, Little Italy, downtown
Next Article

Mary Catherine Swanson wants every San Diego student going to college

Where busing from Southeast San Diego to University City has led

The feud between Mayor Bob Filner and Jan Goldsmith spilled over in a San Diego Superior court room during a March 5 hearing.

"For the record, your honor I do not have an attorney," Mayor Filner told Judge Timothy Taylor in court, according to NBC reporter Wendy Fry's Twitter feed.

"I feel it's a deep conflict of interest [between] City Attorney and myself. He has stated in front of press that my actions are illegal," added Filner.

And while the question of whether City Attorney Goldsmith will represent Filner in court has not yet been answered, it's safe to say that the Tourism Marketing District does not have any concerns about how to pay for its legal expenses.

The district has access to millions of dollars that it has stashed into a "catastrophe reserve fund" since 2007. According to the published minutes from an August 15 meeting financial report, the Tourism Marketing District had $1.8 in revenues in the "opportunity/catastrophe fund."

That's on top of the additional $72,000 set aside for legal expenses.

"The [Tourism Marketing District] shall annually allocate five percent of its revenue to a marketing opportunity/catastrophe reserve fund for the specific purpose ofmaximizing unique and unforeseen opportunities or reacting to unforeseen situations to positively impact the tourism economy in the San Diego region," reads the district's Five-Year Management Plan.

That's just what was rolled over. In fact, the board has access to the entire reserve account, previously capped at $10 million, now that the first five year contract has expired.

"lf the District is renewed following the initial five (5) year term, the available balance, including interest, of the marketing opportunity/catastrophe reserve fund shall be made available to the Corporation managing the renewed District. These previously accumulated funds shall be spent consistent with the allocations in this plan."

David Nielsen, a spokesperson for the Tourism Marketing District, has not responded to a request for comment on the catastrophe fund and how the district plans to pay for the four lawsuits now in court or whether the fund can pay for lost marketing campaign.

An earlier version of this story had the amount of the catastrophe fund at $1.2 million. That was changed after finding an August 15 document stating that amount was actually at $1.8 million.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Hoteliers and city sued for "ill-gotten gains"

New challenge to Tourism Marketing District hotel-room fee
Next Article

Tourism Marketing District has some economic incentive...for city councilmembers

Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader