Cumulative collections through January of the county's fiscal year that began Oct. 1 totaled $30 million, up 14.2% from last year at this time and near the budgeted amount of $30.1 million.
"It is important to remember, however, that this time last year, cumulative collections were nearly 25% below the previous year [2001]," Haynie says.
The monthly tax collection numbers are watched closely by hotel developers and investors as a barometer of the area's hospitality industry's health. The bulk of the money is used to pay down debt on the $750 million, one-million-sf expansion of the 20-year-old Orange County Convention Center. The center hopes to be at 2.2 million sf of exhibition/meeting space this year.
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