Item #3 Economic and Cultural District Framework Policy Presentation — original pdf

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Economic and Cultural District Framework Policy Economic Development Department June 26, 2024 History City of Austin and Economic and Cultural Districts • The City of Austin lacks a holistic approach to the recognition and development of Economic and Cultural Districts • Specific “District” Planning/Policy’s Recognized include: Small Area Planning Historic District Designation Public Improvement Districts C I T Y O F A U S T I N Prior District Council Actions • Resolution No. 20071213-058 establishes the African American Cultural Arts District, the City of Austin’s first Cultural District • Resolution No. 20110825-067 establishes the 5th Street Mexican American Heritage Corridor • Resolution No. 20131017-036 establishes the Red River Cultural District • Resolution No. 20230702-128 establishes the South Shore Cultural District C I T Y O F A U S T I N Souly Austin is a place-based economic development program focused on creating and retaining strong, vibrant, culturally rich and diverse neighborhood business districts throughout Austin through the development of Merchants Associations. Souly Austin Program Purpose: Program Details • 2014 Program began with a focus of forming Neighborhood Business District Merchant Associations • $362,500 annual allocation (2015) • 6 Neighborhood Business District Merchant Associations formed to date • Intent to onboard 2 new districts during 2019 C I T Y O F A U S T I N Purpose Purpose • Framework aims to leverage economic benefits of concentrated activity in defined districts. districts in Austin. • Districts serve as tourist attractions, offering diverse experiences. • Framework provides guidance for organizing and resourcing economic and cultural • Well-defined districts support thriving commerce and cultural preservation. • Unified management, branding, programming, and improvements amplify economic impact and foster synergy among stakeholders. C I T Y O F A U S T I N Defining Districts Economic and Cultural District Definition • Economic and Cultural districts (ECDs) are compact areas (¼ to 1 ½ mile) rich in creative, cultural, and commercial assets. • ECDs contain concentrations of creative, cultural, entertainment, heritage, or commercial assets that contribute to neighborhood supportive commerce • ECDs make use of a variety of economic, value capture, and focused regulatory tools • ECDs are typically stewarded by district management entities independent of the City of Austin. C I T Y O F A U S T I N Types of Districts • Economic - Contain a high proportion of commercial, entertainment, or cultural uses that help anchor economic activity to neighborhoods and cities • Entertainment/Music - Characterized by a high number or proportion of live music venues • Culture and Arts - Characterized by a high number or proportion of arts and culture uses, or by the presence of major arts and culture anchors. • Heritage - Characterized by significant presence of historic and heritage sites, with local, state, or national recognition. • Small Business - Have more diversity of businesses and often include a high proportion of restaurants, personal services, niche retail, and other “main street” style, pedestrian-oriented businesses. C I T Y O F A U S T I N Values & Guiding Principles Values and Guiding Principles • Community Empowerment and Stewardship - Foster grassroots engagement and organization • Preservation and Promotion of Cultural Identity - Ensure that cultural assets, traditions, and stories are honored • Equitable Access to Resources and Opportunities - Implement policies and initiatives that address systemic barriers to access • Sustainable Development and Environmental Stewardship - Integrate sustainable practices into district planning and operations • Economic Clustering - Promote collaboration, networking, and shared resources, fostering growth and resilience within the local economy C I T Y O F A U S T I N Policy Alignments • Music and Creative Ecosystem Stabilization Recommendation Policy Alignments • Imagine Austin • Healthy Food Initiative • Chapter 380 Policy • Strategic Housing Blueprint • Complete Streets • Cultural Tourism Plan • Thriving In Place/Cultural Asset Mapping Project • Neighborhood Actions Plans C I T Y O F A U S T I N District Development Services District Development Services Ombudsmanship District Management Entity Toolkit District Management Entity Development Support Training/Organizational Resources Identity District Agreement Cultural Asset Mapping Equitable Cultural Funding Model Value Recapture Tools (PIDs) Historic District Designation Regulatory Incentives (Creative District Overlay) Tax Increment Financing/Tax Increment Reinvestment Zones Parking Transportation Management Districts/Parking Benefit District Special Revenue Funds Wayfinding Signage Business Partnering Program District Strategy/Implementation Plan Development C I T Y O F A U S T I N Recognition Process • Cultural Districts • Letter of Intent • Letters of Support Capacity • Demonstration of Organizational • Demonstration of Organizational • District Strategy/Implementation Plan • Cultural Asset Map • District Strategy/Implementation Plan • Recognition/Establishing Ordinance Recognition Process • Economic Districts • Letter of Intent • Letters of Support Capacity • Recognition C I T Y O F A U S T I N Current Initiatives Current District Initiatives • African American Cultural Heritage District Resolution No. 20071213-058 • • 5th Street Mexican American Heritage Corridor Resolution No. 20110825-067 • • Red River Cultural District Resolution No. 20131017-036 • • South Shore Cultural District Resolution No. 20230720-128 • • Souly Austin District Development (FY19 Commitments) South First Street , Aldrich Street at Mueller • • Existing Economic and Cultural Districts • East 12th Street, East Cesar Chavez Street, North Lamar International District, South Congress C I T Y O F A U S T I N Ongoing Challenges Ongoing Challenges • Unfunded IFCs • Limited Financial Capacity • Limited Staffing Capacity • Limited Community Capacity • Lack of Business/District Preservation/Resiliency Tools C I T Y O F A U S T I N Questions? Economic Development Department June 26, 2024