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 increase the amount by $2,000,000 for operational support, for a total agreement amount not to exceed $60,355,260. Funding: $2,000,000 is available in the Operating Budget of Austin Financial Services.
Body
Lead Department
Austin Financial Services
Fiscal Note
Funding in the amount of $2,000,000 is available in the Operating Budget of Austin Financial Services.
Prior Council Action:
June 10, 2021 - Council authorized an interlocal agreement with the Austin Economic Development Corporation to provide assistance in engaging and supporting development projects and leveraging the City’s investments or assets to achieve inclusive economic and community development outcomes and priorities.
For More Information:
Diana Thomas, Deputy Chief Financial Officer, Austin Financial Services, (512) 974-2924; Meghan Wells, Economic Redevelopment Program Manager, Austin Financial Services, (512) 974-9314.
Additional Backup Information:
This action seeks to increase the amount of funding provided to Rally Austin (formerly known as the Austin Economic Development Corporation) through an amendment to the existing Interlocal Agreement for the following:
• $2,000,000 approved in the Fiscal Year 2026-2027 Operating Budget of Austin Financial Services for Rally Austin to be used for operational support.