Posting Language
Title
Approve an ordinance establishing a new program under Chapter 380, Texas Local Government Code, entitled the Place-Based Enhancement Program, in compliance with Council's approved Chapter 380 Policy, that will provide financing to fill funding gaps in projects that deliver high levels of community benefits.
De
Lead Department
Economic Development.
Fiscal Note
There is no fiscal impact.
Prior Council Action:
August 30, 2018 - Council passed Resolution No. 20180830-056, adopting the Economic Development Guiding Principles.
August 30, 2018 - Council passed Ordinance No. 20180830-058, directing the City Manager to develop a locational enhancement program to address commercial affordability for local small businesses, including the creative sector, to develop vibrant commercial corridors, and to increase access to goods and services in communities that are traditionally underinvested.
January 23, 2020 - Council authorized negotiation and execution of a contract with Ricker-Cunningham to provide real estate consulting services for the development of a location enhancement program.
July 28, 2022 - Council passed Resolution No. 20220728-094, directing the City Manager to develop a Live Music Venue Bonus and Incentive Program, including expanded facilitation of affordable commercial space in new construction for music venues.
September 1, 2022 - Council passed Resolution No. 20220901-089, directing the City Manager to develop a Creative Space Bonus and Incentive Program including "expanded facilitation of affordable commercial space ... in new construction," incentivization of "lower cost/long term leases" including "potential property tax relief for owners," and the use of Chapter 380 agreements for this.
September 21, 2023 - Council passed Ordinance No. 20230921-103, adopting the Palm District Plan as an element of the Imagine Austin Comprehensive Plan, including direction to revise the Chapter 380 policy to incorporate tools a...
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