Authorize negotiation and execution of a Place-Based Enhancement Cultural Preservation economic development agreement with The Vortex for a total amount not to exceed $107,803 over a five-year term to support retention of this local legacy creative sector business.  Funding: $20,715 is available in the Fiscal Year 2025-2026 Operating Budget of the Austin Economic Department's Economic Incentive Reserve Fund. Funding for the remaining years of the agreement is contingent upon available funding in

Staff Report & Agenda Item Details

Authorize negotiation and execution of a Place-Based Enhancement Cultural Preservation economic development agreement with The Vortex for a total amount not to exceed $107,803 over a five-year term to support retention of this local legacy creative sector business.  Funding: $20,715 is available in the Fiscal Year 2025-2026 Operating Budget of the Austin Economic Department's Economic Incentive Reserve Fund. Funding for the remaining years of the agreement is contingent upon available funding in future budgets.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 7.5/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).