Posting Language
Title
Authorize negotiation and execution of an amendment to the interlocal agreement with the Austin Economic Development Corporation, d/b/a Rally Austin, to provide $13,215,260 of City hotel occupancy tax funding to Rally Austin to be used to establish and fund the Historic Preservation Acquisition Fund program to identify, acquire, preserve, activate, and steward historic properties and related preservation activities that promote tourism and convention visitation in compliance with Texas Tax Code Section 351.101(a)(5) and fund Rally Austin's administrative fees, for a revised total agreement amount not to exceed $58,355,260. Funding: $13,215,260 is available in the Fiscal Year 2025-2026 Austin Arts, Culture, Music and Entertainment Special Revenue Fund (Historic Preservation Fund).
Body
Lead Department
Austin Financial Services.
Fiscal Note
Funding in the amount of $13,215,260 is available in the Fiscal Year 2025-2026 Austin Arts, Culture, Music and Entertainment Special Revenue Fund (Historic Preservation Fund).
Prior Council Action:
December 11, 2025 - Council approved an amendment to the interlocal agreement with the Austin Economic Development Corporation, d/b/a Rally Austin.
September 26, 2024 - Council approved a resolution directing the City Manager regarding the use of the historic preservation acquisition funds and collaboration with the Austin Economic Development Corporation, d/b/a Rally Austin, on a 10-0 vote.
For More Information:
Diana Thomas, Deputy Chief Financial Officer, 512-974-1166; Meghan Wells, Economic Redevelopment Program Manager, 512-974-9314.
Additional Backup Information:
Resolution No. 20240926-069 directed the City Manager to work with Rally Austin and other key historic preservation and arts stakeholders to recommend a process for identifying, prioritizing, and acquiring property with historic preservation acquisition funds, to consider properties for which the City has first right of refusal, and to dev...
Click here for full text