Van Buren A&P director sees shaky 2010 economy

story by Marla Cantrell
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Wednesday’s meeting (Feb. 10) meeting of the Van Buren Advertising and Promotion Commission looked back at last year’s dismal tax collections and forward to a year that could improve slightly if absolutely nothing happens to deter it.

“I think 2010 is not going to be as devastating for the economy as what we’ve just come through,” said Maryl Koeth, executive director of the A&P. “I think we are going to see a slow improvement. However, any ripples, even a small ripple in the economy nationwide, I think we will see either the slow economy come to a standstill or a minor dip again. I think the recovery is just that shaky right now.”

Because last month’s meeting was canceled, commissioners looked at financial statements for November and December.

November tax receipts were 4% below November of 2007 and 5% below 2008. Koeth said December tax receipts were some of the worst the city has seen since the recession started, coming in at 4.25% below December 2008 and just under 9% below budget.

Hospitality tax collections for Van Buren in 2008 totaled $410,914, up 7.4% over 2007 and up more than 14.5% over 2006. Van Buren collects a 1% tax on lodging and restaurants.

Overall, the year ended 1% under budget. Not good news, but Koeth said it could be worse.

Commissioners Debbie Foliart, Tina Youngblood, Donna Parker, Rusty Myers and Mary Ann Dodd, along with Koeth, went into executive session to discuss the vacancy left by Judy Davis. She resigned after leaving her job at Motel 6. Shawn Patel, general manager of the Holiday Inn Express, was appointed to serve the remainder of Davis’ term, which will end Sept. 12, 2012.

In other business, commissioners discussed the upcoming Arkansas Governor’s Conference on Tourism, which will begin March 7 in Eureka Springs.