Posting Language
Title
Authorize the use of up to $5,100,000 of proceeds from bonds approved by voters in 2018 under Proposition B (Libraries, Museums & Cultural Arts Facilities) by the Austin Economic Development Corporation for cultural trust projects and real estate transactions, subject to final allocation as determined by the Austin Economic Development Corporation Board of Directors.
De
Lead Department
Economic Development Department.
Fiscal Note
Funding is available in the Capital Budget of the Economic Development Department.
For More Information:
Sylnovia Holt-Rabb, Director, Economic Development Department, 512-974-3131; Theresa Alvarez, President and CEO, Austin Economic Development Corporation, 512-844-2972.
Council Committee, Boards and Commission Action:
July 10, 2024, AEDC Board approval.
Additional Backup Information:
The City is partnering with the Austin Economic Development Corporation (AEDC) to achieve several shared goals, including broadening community access to vital programs and strengthening cultural arts, music, and theatre. In 2021, AEDC issued a request for proposals from cultural arts organizations pursuing funding from the Cultural Trust Fund, which resulted in six projects identified to receive funding, including the two outlined in this recommendation.
The objectives of these projects are to improve infrastructure for long-standing institutions serving the community by enhancing the production of arts/music/culture through a variety of organizations and bringing experienced expertise to managing publicly accessible and affordable community arts facilities.
In accordance with the interlocal agreement with AEDC, City Council must approve the expenditure of any proceeds from Proposition B of the 2018 Bond. By approval of this item, Council approves the use of bond funds for the following expenditures:
The Museum of Human Achievement
The Museum of Human Achievement (MoHA) facility includes a multi-building performing arts ca...
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