During the Gainesville Economic Development Corporation (GEDC) board of directors meeting Monday, members discussed the GEDC’s sales tax collection historical comparison report, which shows revenue from sales tax for September (sales taxes actually collected during the month June) at approximately $85,850.80.

The report shows the GEDC is approximately $73,000 short of the $927,084.36 budgeted for sales tax collection for the 2008-2009 fiscal year.

During the summer budget session in June, GEDC Executive Director Kent Sharp estimated that the GEDC would collect $1 million in sales tax by the end of their fiscal year.

During the Monday meeting, the board discussed that the $73,000 will likely be collected during the 12th month of the fiscal year, to bring the total amount to $1 million.

The GEDC fiscal year starts Oct. 1 and ends Sept. 30.

During the meeting board members approved the minutes of the July 27 board meeting and the financials of July 2009 by a 6-0 vote.

Board members met in executive session to discuss real property — under Government Code 551.072 and deliberated regarding economic development negotiations — under Government Code 551.087.

Board members took no action after returning to open session.

There were no citizen comments during the meeting.

All board members were present except Keith Clegg.

The meeting took place at the First State Bank Conference Center.

In an interview with the Gainesville Daily Register yesterday, Sharp said that the sales tax collection report indicates that consumer spending is rebounding.

The report shows the percent of change in the amount of sales tax collected in August was only -12.07 percent, as compared to -17.95 percent in July and -31.43 percent in March. At the beginning of the 2008-2009 fiscal year in October, the percent of change was at 17.52 percent.

“For the year we’re down 13 percent, but we’re healthy,” added Sharp.

Sharp said that the offices to house the GEDC and Gainesville Chamber of Commerce at the Gainesville Civic Center site are coming up pretty quick.

Sharp said that he is still hoping the offices will be completed before Christmas, but said the contractors have until the last part of January or first part of February to finish the project.

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