Posting Language
Title
Authorize negotiation and execution of a Business Expansion Program economic development agreement with Base Power Company for a performance-based award to create 500 jobs for an amount not to exceed 52% of property taxes paid or $4,847,950 over a 10-year term, as well as a transfer of $932,298 to the Childcare Assistance Reserve Fund. Funding: Contingent upon approval of the Operating Budget of the Austin Economic Department's Economic Incentive Reserve Fund Budget.
De
Lead Department
Austin Economic Development.
Fiscal Note
Maximum incentive payments to Base Power Company are estimated at $4,847,950 in total over the course of a ten-year term, if all performance and compliance criteria are met. Funding for incentive payments is contingent upon the annual appropriation of funds to the Economic Incentive Reserve Fund by City Council. Eligible sources of funding for the Economic Incentive Reserve Fund may include, but are not limited to, sales taxes, property taxes, mixed beverage taxes, and grants and private donations.
For More Information:
Anthony Segura, Deputy Director, Austin Economic Development, 512-974-3187; Matthew Schmidt, Division Manager, Austin Economic Development, 512-974-6415.
Additional Backup Information:
Project Summary
Base Power Company is an Austin-based energy company (founded in 2023) that combines Texas retail electricity service with installed home battery backup, positioning itself as both a power provider and a resilience solution in one. Led by founder and CEO Zach Dell, Base's model centers on deploying large residential batteries at customers' homes and using that distributed fleet to provide outage protection for households while also helping manage grid demand and reliability. The company is listed as a registered Retail Electric Provider in Texas and publicly markets its equipment as meeting common safety standards/certifications (including UL listings).
The company is proposing a 486,000 square fee...
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