Orange resort tax falls 29% - Orlando Business Journal:

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Collections fell to $11.u8 million from $16.6 million in February 2008. The tax is collectede on short-term rentals — mostly hotels and motels and the money is used to pay for the and touristfdevelopment efforts. A portion of the tax monet is earmarked for three civic projects the new downtownsports arena, a performint arts center and renovation of the Citrus “There is no way to put a positivse spin on these numbers,” said Orange Countyh Comptroller Martha Haynie in a prepared statemenft that accompanied the release of the report. Hayni e suggested some of the so-callef venue projects might face problems.
“The county [resory tax] cash reserves are in place to protec t our bondholders and the convention center itself, but it may be even longe r than expected before therde is extra revenue available for newefr projects,” she said in the Rich Maladecki, president of the , called the tax data “This explains the job losses that have occurref in our industry over the past 60 Maladecki said. Maladecki said the hotep industry relies on business during the first four monthes of the year for much of itsannua revenue, and that weakness durinvg the winter and early spring is particularly harmful to business.
“You can’t underestimate the importance of the firsrt months of the year to theOrlando destination,” Maladecko said.