Posting Language
Title
Approve a resolution appointing nominees to the Board of Directors of Austin Economic Development Corporation d/b/a Rally Austin, in accordance with Subchapter D, Chapter 431, of the Texas Transportation Code. Funding: This item has no fiscal impact.
Body
Lead Department
Austin Financial Services.
Fiscal Note
This item has no fiscal impact.
For More Information:
Diana Thomas, Deputy Chief Financial Officer, (512) 974-1166; Meghan Wells, Special Liaison for Economic Development and Culture, (512) 974-9314.
Additional Backup Information:
In October 2020, the City created the Austin Economic Development Corporation, which operates today as Rally Austin. Statutorily established under Chapter 431 Texas Transportation Code, Chapter 394 Texas Local Government Code and the Texas Nonprofit Corporation Law, Rally Austin is organized for the purpose of aiding and acting on behalf of the City in the performance of the City's governmental functions to accomplish any governmental purpose of the City.
Rally Ausitn is a fully autonomous agency and is governed by a board consisting of 19 voting members who are nominated by the City and other external agencies in the community. Each nominating body is asked to provide up to three nominations meeting the description of the subject matter area, qualifications, and skill sets for an ideal nominee. Criteria include a strong background, understanding and familiarity of the nominating organization, and the community the nominating organization serves. Each nominee must also possess demonstrable skills and experience in the areas of industry, public/private partnerships, infrastructure or transportation, real estate development or construction, urban/regional planning, historic preservation, finance, creative and music industry, minority and women-owned businesses, and workforce.
To support continuity in governance, board seats are divided into three groups that are renewed annually for a 3-year term.
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