Cumulative collections since the county's fiscal year began Oct. 1, 2004 are $49 million or an average $9.8 million per month. If that pace continues, the county could finish its fiscal year with a record $117.6 million, surpassing the existing high mark of $114.8 million set in 2004.
Haynie says February collections represent "the highest amount ever collected for the month of February." She calls the collections to date "a record-setting trend." Cumulative collections for the first five months of this fiscal year are 13.9% over the $43 million posted at this time last year.
The bulk of the revenue is spent on the four-million-sf Orange County Convention Center and marketing promotions for the hospitality industry. Now, however, other local groups are suggesting the county's room tax windfall could also be used to foster non-tourism related activities. One of those suggestions is renovating and updating the 15-year-old, 18,000 seat T.D. Waterhouse Centre, home of the National Basketball Association's Orlando Magic.
The county has heard this suggestion before and also a suggestion to build a new arena for the team. But the county hasn't moved on any of the requests to spend tourism industry funds on the arena because, they say, Magic owner Richard DeVos is only willing to contribute about $10.5 million toward the estimated $250 million hard cost of a new arena.
Forbes magazine recently estimated the aggregate value of the Orlando NBA franchise at $218 million.
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