Regular Called Meeting of the Economic Prosperity Commission Wednesday, May 21, 2025, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Ryan Sperling, 512- 974-3568, ryan.sperling@austintexas.gov. CURRENT BOARD MEMBERS/COMMISSIONERS: Commissioner Christina Ponder Ofelia Zapata Raquel Valdez Sanchez Michael Nahas (Chair) Rodrigo Cantu Shakeel Rashed Appointment District 1 District 2 District 3 District 4 District 5 District 6 Commissioner Zain Pleuthner VACANT Aaron Gonzales Aditi Joshi VACANT AGENDA CALL TO ORDER PUBLIC COMMUNICATION: GENERAL Appointment District 7 District 8 District 9 District 10 Mayor The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Meeting on February 19, 2025. DISCUSSION ITEMS 2. Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. DISCUSSION AND ACTION ITEMS 3. Approve a recommendation to City Council for the FY2025-26 budget to increase funding of language access resources for small businesses. 4. Approve recommendations to City Council regarding the FY2025-26 budget as it relates to the Economic Prosperity Commission. 5. Conduct officer elections for Chair and Vice Chair. WORKING GROUP UPDATES 6. Update from the Childcare working group regarding a survey of recent license recipients. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please contact Ryan Sperling, Office of the City Clerk at 512-974-3568 or ryan.sperling@austintexas.gov for additional information; TTY users route through Relay Texas at 711. For more information on the Economic Prosperity Commission, please contact Ryan Sperling at 512-974-3568 or ryan.sperling@austintexas.gov.
Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, February 19, 2025 The Economic Prosperity Commission convened in a regular meeting on Wednesday, February 19, 2025 at 301 W. 2nd Street, Boards and Commissions Room 1101, in Austin, Texas. Chair Nahas called the Economic Prosperity Commission Meeting to order at 6:31 p.m. Commissioners in Attendance in Person: Michael Nahas (Chair) Amy Rister Raquel Valdez-Sanchez Commissioners in Attendance Remotely: Aaron Gonzales Kelsey Hitchingham Amy Noel Ofelia Zapata PUBLIC COMMUNICATION: GENERAL None present. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on October 19, 2022. The minutes were approved with an amendment to remove “Chair” from before “Kelsey” and insert “Chair” before “Nathan Ryan” on Chair Nahas’ motion, Commissioner Hitchingham’s second, on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. Item 1 was taken up after Item 2 without objection. 2. Approve the minutes of the Economic Prosperity Commission regular meeting on January 29, 2025. 1 Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 The minutes were approved without objection on Chair Nahas’ motion on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. DISCUSSION ITEMS 3. Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. Discussion was held. DISCUSSION AND ACTION ITEMS 4. 5. Conduct an emergency election for a Vice Chair of the Economic Prosperity Commission. Commissioner Rister was nominated for the role of Vice Chair by Chair Nahas, second by Commissioner Zapata. Commissioner Rister was elected as Vice Chair on Chair Nahas’ motion, Commissioner Zapata’s second on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. Item 4 was taken up after Item 5 without objection. Discussion and possible action on a recommendation regarding Chapter 380 programs. The below recommendation was approved on Chair Nahas’ motion, Commissioner Rister’s second, on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. WHERE AS: Austin City Council recently approved changes to the Chapter 380 Program under Ordinance No. 20240926-013. WHERE AS: The revised Chapter 380 program guidelines indicate that specific goals for program and project metrics will be defined during the rule promulgation and development phase within the first year of implementation. Effectively, pausing the program for one year. WHERE AS: Publishing a temporary scoring …
Commission Recommendation Economic Prosperity Commission Recommendation 20250521-003: Language Access Programs for Entrepreneurs WHEREAS the City of Austin has demonstrated a commitment to fostering economic and community potential by supporting underrepresented entrepreneurs, including women and minority business owners, through initiatives that reduce economic exclusion and bolster job creation; WHEREAS individuals with Limited English Proficiency (LEP), defined by the federal government as those who do not speak English as their primary language and have limited ability to read, speak, write, or understand English, comprise 10% of Austin's population; WHEREAS 24% of all new Austin businesses are founded by immigrants, who are 24.1% more likely to start a business than U.S.-born residents; WHEREAS 15% of Austin businesses are owned by immigrants, reflecting the city's cultural and economic diversity. Despite their entrepreneurial drive, LEP business owners face significant barriers in navigating regulatory processes, securing funding, and accessing critical business resources; WHEREAS Council Resolution 20131017-038 (2013) directed the City Manager to establish a universal translation and interpretation service protocol, culminating in the 2022 Language Access Policy. However, this policy primarily serves individuals rather than addressing the distinct needs of LEP business owners; WHEREAS Title VI of the Civil Rights Act of 1964 prohibits discrimination based on race, color, or national origin in federally funded programs, underscoring the importance of equitable access to city resources for all entrepreneurs; WHEREAS immigrant entrepreneurs, who constitute 18% of Austin’s population, are twice as likely to be self-employed but face higher business failure rates due to language barriers, limited professional networks, and lack of access to capital and regulatory information; WHEREAS investing in Limited English Proficiency entrepreneurs strengthens Austin’s economy, increases resilience during economic downturns, expands the tax base, and creates jobs; WHEREAS the Economic Development Department’s Community Navigator Program, which provided critical business support services, ended in December 2024, leaving a gap in resources for immigrant business owners; WHEREAS popular programs for English-speaking entrepreneurs, such as the BizAid Business Orientation, have not been offered in Spanish in the past 12 months due to a lack of awareness among existing and new limited english proficiency businesses. BizAid Business is an introductory class designed to equip aspiring business owners with the knowledge and resources needed to navigate the complex landscape of city, state, and federal regulations, as well as gain insights into the City of Austin's development process for commercial properties; WHEREAS immigrant-owned businesses in Texas employ over 635,000 workers and …
ECONOMIC PROSPERITY COMMISSION RECOMMENDATION 20250521-004 Date: April 16, 2025 Subject: City’s FY 2025 – 2026 Budget Motioned By: Seconded By: Recommendation Reduce risk by moving from pensions and post-employment healthcare to defined contribution. Description of Recommendation to Council Remove risk by changing our retirement programs from pensions and post-employment healthcare to defined-contribution programs. Remove risk by paying a third party to accept Austin’s existing pension and post-employment healthcare liabilities. Payment could be either a series of future annual payments or an immediate payment, using funds raised by General Obligations bonds. Rationale: The City of Austin currently promises pensions and post-retirement healthcare to its employees. That is, we specify benefits after they retire for as long as they live. This sounds nice, but the hard truth is that we do not know the financial future. We do not know the price today of those promises. Those promises have already created a gigantic problem. The 2024 Annual Comprehensive Financial Report for the City of Austin says our unfunded actuarial accrued liabilities for the pension are $2,294,789,000. For post-employment benefits (which is mostly healthcare) it is $1,851.879,000. And that’s just the government side. The enterprises have an additional $2,610,485,000 in pension and post-employment liabilities. If we spent all of our property tax paying off the government liability, it would take 4 years. This gigantic problem may grow larger. Consider the data on page 56 of the 2023 Annual Comprehensive Financial Report for COAERS, the City of Austin Employee’s Retirement System. The current outstanding liabilities are calculated assuming a 6.75% return by their investments. If the return is just 1% less, the liabilities increase by 30%. 1 of 3 This problem hurts us right now. Page 34 of the 2024-25 budget says we paid $151,781,000 to pay down just 1/30th of the liability. Austin’s government charged a family of four more than $50 per month not to provide services, but just to pay down a tiny fraction of our $4 billion debt. Pensions and healthcare promises are dangerous. They crippled America’s car industry. They almost ended America’s steel industry. Multiple cities have declared bankruptcy due to the burdens of pension and healthcare. Detroit, Michigan, which was the fastest growing city in America in its heyday, went bankrupt due to pensions. Pension programs and healthcare promises can harm more than the City of Austin; they might harm our employees in the future who would be …
Regular Called Meeting of the Economic Prosperity Commission Wednesday, April 16, 2025, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Ryan Sperling, 512- 874-3568, ryan.sperling@austintexas.gov. CURRENT BOARD MEMBERS/COMMISSIONERS: Commissioner Christina Ponder Ofelia Zapata Raquel Valdez Sanchez Michael Nahas (Chair) Rodrigo Cantu Shakeel Rashed Appointment District 1 District 2 District 3 District 4 District 5 District 6 Commissioner Zain Pleuthner VACANT Aaron Gonzales Aditi Joshi Laura Dixon AGENDA CALL TO ORDER PUBLIC COMMUNICATION: GENERAL Appointment District 7 District 8 District 9 District 10 Mayor The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Meeting on February 19, 2025. DISCUSSION ITEMS 2. Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. DISCUSSION AND ACTION ITEMS 3. Approve a recommendation to City Council for the FY2025-26 budget to increase funding of language access resources for small businesses. 4. Approve recommendations to City Council regarding the FY2025-26 budget as it relates to the Economic Prosperity Commission. 5. Conduct officer elections for Chair and Vice Chair. WORKING GROUP UPDATES 6. Update from the Childcare working group regarding a survey of recent license recipients. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please contact Ryan Sperling, Office of the City Clerk at 512-974-3568 or ryan.sperling@austintexas.gov for additional information; TTY users route through Relay Texas at 711. For more information on the Economic Prosperity Commission, please contact Ryan Sperling at 512-974-3568 or ryan.sperling@austintexas.gov.
Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, February 19, 2025 The Economic Prosperity Commission convened in a regular meeting on Wednesday, February 19, 2025 at 301 W. 2nd Street, Boards and Commissions Room 1101, in Austin, Texas. Chair Nahas called the Economic Prosperity Commission Meeting to order at 6:31 p.m. Commissioners in Attendance in Person: Michael Nahas (Chair) Amy Rister Raquel Valdez-Sanchez Commissioners in Attendance Remotely: Aaron Gonzales Kelsey Hitchingham Amy Noel Ofelia Zapata PUBLIC COMMUNICATION: GENERAL None present. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on October 19, 2022. The minutes were approved with an amendment to remove “Chair” from before “Kelsey” and insert “Chair” before “Nathan Ryan” on Chair Nahas’ motion, Commissioner Hitchingham’s second, on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. Item 1 was taken up after Item 2 without objection. 2. Approve the minutes of the Economic Prosperity Commission regular meeting on January 29, 2025. 1 Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 The minutes were approved without objection on Chair Nahas’ motion on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. DISCUSSION ITEMS 3. Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. Discussion was held. DISCUSSION AND ACTION ITEMS 4. 5. Conduct an emergency election for a Vice Chair of the Economic Prosperity Commission. Commissioner Rister was nominated for the role of Vice Chair by Chair Nahas, second by Commissioner Zapata. Commissioner Rister was elected as Vice Chair on Chair Nahas’ motion, Commissioner Zapata’s second on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. Item 4 was taken up after Item 5 without objection. Discussion and possible action on a recommendation regarding Chapter 380 programs. The below recommendation was approved on Chair Nahas’ motion, Commissioner Rister’s second, on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. WHERE AS: Austin City Council recently approved changes to the Chapter 380 Program under Ordinance No. 20240926-013. WHERE AS: The revised Chapter 380 program guidelines indicate that specific goals for program and project metrics will be defined during the rule promulgation and development phase within the first year of implementation. Effectively, pausing the program for one year. WHERE AS: Publishing a temporary scoring …
Commission Recommendation Economic Prosperity Commission Recommendation 202504160-003: Language Access Programs for Entrepreneurs WHEREAS the City of Austin has demonstrated a commitment to fostering economic and community potential by supporting underrepresented entrepreneurs, including women and minority business owners, through initiatives that reduce economic exclusion and bolster job creation; WHEREAS individuals with Limited English Proficiency (LEP), defined by the federal government as those who do not speak English as their primary language and have limited ability to read, speak, write, or understand English, comprise 10% of Austin's population; WHEREAS 24% of all new Austin businesses are founded by immigrants, who are 24.1% more likely to start a business than U.S.-born residents; WHEREAS 15% of Austin businesses are owned by immigrants, reflecting the city's cultural and economic diversity. Despite their entrepreneurial drive, LEP business owners face significant barriers in navigating regulatory processes, securing funding, and accessing critical business resources; WHEREAS Council Resolution 20131017-038 (2013) directed the City Manager to establish a universal translation and interpretation service protocol, culminating in the 2022 Language Access Policy. However, this policy primarily serves individuals rather than addressing the distinct needs of LEP business owners; WHEREAS Title VI of the Civil Rights Act of 1964 prohibits discrimination based on race, color, or national origin in federally funded programs, underscoring the importance of equitable access to city resources for all entrepreneurs; WHEREAS immigrant entrepreneurs, who constitute 18% of Austin’s population, are twice as likely to be self-employed but face higher business failure rates due to language barriers, limited professional networks, and lack of access to capital and regulatory information; WHEREAS investing in Limited English Proficiency entrepreneurs strengthens Austin’s economy, increases resilience during economic downturns, expands the tax base, and creates jobs; WHEREAS the Economic Development Department’s Community Navigator Program, which provided critical business support services, ended in December 2024, leaving a gap in resources for immigrant business owners; WHEREAS popular programs for English-speaking entrepreneurs, such as the BizAid Business Orientation, have not been offered in Spanish in the past 12 months due to a lack of awareness among existing and new limited english proficiency businesses. BizAid Business is an introductory class designed to equip aspiring business owners with the knowledge and resources needed to navigate the complex landscape of city, state, and federal regulations, as well as gain insights into the City of Austin's development process for commercial properties; WHEREAS immigrant-owned businesses in Texas employ over 635,000 workers and …
ECONOMIC PROSPERITY COMMISSION RECOMMENDATION 20250416-004 Date: April 16, 2025 Subject: City’s FY 2025 – 2026 Budget Motioned By: Seconded By: Recommendation Reduce risk by moving from pensions and post-employment healthcare to defined contribution. Description of Recommendation to Council Remove risk by changing our retirement programs from pensions and post-employment healthcare to defined-contribution programs. Remove risk by paying a third party to accept Austin’s existing pension and post-employment healthcare liabilities. Payment could be either a series of future annual payments or an immediate payment, using funds raised by General Obligations bonds. Rationale: The City of Austin currently promises pensions and post-retirement healthcare to its employees. That is, we specify benefits after they retire for as long as they live. This sounds nice, but the hard truth is that we do not know the financial future. We do not know the price today of those promises. Those promises have already created a gigantic problem. The 2024 Annual Comprehensive Financial Report for the City of Austin says our unfunded actuarial accrued liabilities for the pension are $2,294,789,000. For post-employment benefits (which is mostly healthcare) it is $1,851.879,000. And that’s just the government side. The enterprises have an additional $2,610,485,000 in pension and post-employment liabilities. If we spent all of our property tax paying off the government liability, it would take 4 years. This gigantic problem may grow larger. Consider the data on page 56 of the 2023 Annual Comprehensive Financial Report for COAERS, the City of Austin Employee’s Retirement System. The current outstanding liabilities are calculated assuming a 6.75% return by their investments. If the return is just 1% less, the liabilities increase by 30%. 1 of 3 This problem hurts us right now. Page 34 of the 2024-25 budget says we paid $151,781,000 to pay down just 1/30th of the liability. Austin’s government charged a family of four more than $50 per month not to provide services, but just to pay down a tiny fraction of our $4 billion debt. Pensions and healthcare promises are dangerous. They crippled America’s car industry. They almost ended America’s steel industry. Multiple cities have declared bankruptcy due to the burdens of pension and healthcare. Detroit, Michigan, which was the fastest growing city in America in its heyday, went bankrupt due to pensions. Pension programs and healthcare promises can harm more than the City of Austin; they might harm our employees in the future who would be …
Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, February 19, 2025 The Economic Prosperity Commission convened in a regular meeting on Wednesday, February 19, 2025 at 301 W. 2nd Street, Boards and Commissions Room 1101, in Austin, Texas. Chair Nahas called the Economic Prosperity Commission Meeting to order at 6:31 p.m. Commissioners in Attendance in Person: Michael Nahas (Chair) Amy Rister Raquel Valdez-Sanchez Commissioners in Attendance Remotely: Aaron Gonzales Kelsey Hitchingham Amy Noel Ofelia Zapata PUBLIC COMMUNICATION: GENERAL None present. APPROVAL OF MINUTES Approve the minutes of the Economic Prosperity Commission Regular Called Meeting on October 19, 2022. The minutes were approved with an amendment to remove “Chair” from before “Kelsey” and insert “Chair” before “Nathan Ryan” on Chair Nahas’ motion, Commissioner Hitchingham’s second, on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. Item 1 was taken up after Item 2 without objection. Approve the minutes of the Economic Prosperity Commission regular meeting on January 29, 2025. 1 1. 2. Economic Prosperity Commission Meeting Minutes Wednesday, February 19, 2025 The minutes were approved without objection on Chair Nahas’ motion on a 6-0 vote. Commissioner Zapata was off the dais. Commissioners Cantu, Dixon, and Ponder were absent. DISCUSSION ITEMS Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. Discussion was held. DISCUSSION AND ACTION ITEMS Conduct an emergency election for a Vice Chair of the Economic Prosperity Commission. Commissioner Rister was nominated for the role of Vice Chair by Chair Nahas, second by Commissioner Zapata. Commissioner Rister was elected as Vice Chair on Chair Nahas’ motion, Commissioner Zapata’s second on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. Item 4 was taken up after Item 5 without objection. Discussion and possible action on a recommendation regarding Chapter 380 programs. The below recommendation was approved on Chair Nahas’ motion, Commissioner Rister’s second, on a 7-0 vote. Commissioners Cantu, Dixon, and Ponder were absent. WHERE AS: Austin City Council recently approved changes to the Chapter 380 Program under Ordinance No. 20240926-013. WHERE AS: The revised Chapter 380 program guidelines indicate that specific goals for program and project metrics will be defined during the rule promulgation and development phase within the first year of implementation. Effectively, pausing the program for one year. WHERE AS: Publishing a temporary scoring matrix would allow …
Regular Called Meeting of the Economic Prosperity Commission Wednesday, March 19, 2025, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Ryan Sperling, 512- 874-3568, ryan.sperling@austintexas.gov. CURRENT BOARD MEMBERS/COMMISSIONERS: Michael Nahas, Chair Rodrigo Cantu Aaron Gonzales Amy Noel Amy Rister Ofelia Zapata Luis Osta Lugo, Vice Chair Laura Dixon Kelsey Hitchingham Christina Ponder Raquel Valdez Sanchez AGENDA CALL TO ORDER PUBLIC COMMUNICATION: GENERAL The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Meeting on February 19, 2025. DISCUSSION ITEMS Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. WORKING GROUP RECOMMENDATIONS Recommendation from the Small Business Working Group regarding language access for small businesses. DISCUSSION AND ACTION ITEMS Approve a recommendation to City Council for the FY2025-26 budget to increase funding of language access resources for small businesses. Approve recommendations to City Council regarding the FY2025-26 budget as it relates to the Economic Prosperity Commission WORKING GROUP UPDATES 6. Update from the Childcare working group regarding a survey of recent license recipients. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please contact Ryan Sperling, Office of the City Clerk at 512-974-3568 or ryan.sperling@austintexas.gov for additional information; TTY users route through Relay Texas at 711. For more information on the Economic Prosperity Commission, please contact Ryan Sperling at 512-974-3568 or ryan.sperling@austintexas.gov. 2. 3. 4. 5.
ECONOMIC PROSPERITY COMMISSION RECOMMENDATION 20250319-005 Date: March 19, 2025 Subject: City’s FY 2025 – 2026 Budget Motioned By: Seconded By: Recommendation Reduce risk by moving from pensions and post-employment healthcare to defined contribution. Description of Recommendation to Council Remove risk by changing our retirement programs from pensions and post-employment healthcare to defined-contribution programs. Remove risk by paying a third party to accept Austin’s existing pension and post-employment healthcare liabilities. Payment could be either a series of future annual payments or an immediate payment, using funds raised by General Obligations bonds. Rationale: The City of Austin currently promises pensions and post-retirement healthcare to its employees. That is, we specify benefits after they retire for as long as they live. This sounds nice, but the hard truth is that we do not know the financial future. We do not know the price today of those promises. Those promises have already created a gigantic problem. The 2024 Annual Comprehensive Financial Report for the City of Austin says our unfunded actuarial accrued liabilities for the pension are $2,294,789,000. For post-employment benefits (which is mostly healthcare) it is $1,851.879,000. And that’s just the government side. The enterprises have an additional $2,610,485,000 in pension and post-employment liabilities. If we spent all of our property tax paying off the government liability, it would take 4 years. This gigantic problem may grow larger. Consider the data on page 56 of the 2023 Annual Comprehensive Financial Report for COAERS, the City of Austin Employee’s Retirement System. The current outstanding liabilities are calculated assuming a 6.75% return by their investments. If the return is just 1% less, the liabilities increase by 30%. 1 of 3 This problem hurts us right now. Page 34 of the 2024-25 budget says we paid $151,781,000 to pay down just 1/30th of the liability. Austin’s government charged a family of four more than $50 per month not to provide services, but just to pay down a tiny fraction of our $4 billion debt. Pensions and healthcare promises are dangerous. They crippled America’s car industry. They almost ended America’s steel industry. Multiple cities have declared bankruptcy due to the burdens of pension and healthcare. Detroit, Michigan, which was the fastest growing city in America in its heyday, went bankrupt due to pensions. Pension programs and healthcare promises can harm more than the City of Austin; they might harm our employees in the future who would be …
Regular Called Meeting of the Economic Prosperity Commission Wednesday, February 19, 2025, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Ryan Sperling, 512- 874-3568, ryan.sperling@austintexas.gov. CURRENT BOARD MEMBERS/COMMISSIONERS: Michael Nahas, Chair Rodrigo Cantu Aaron Gonzales Amy Noel Amy Rister Ofelia Zapata Luis Osta Lugo, Vice Chair Laura Dixon Kelsey Hitchingham Christina Ponder Raquel Valdez Sanchez AGENDA CALL TO ORDER PUBLIC COMMUNICATION: GENERAL The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Meeting on October 19, 2022. Approve the minutes of the Economic Prosperity Commission regular meeting on January 29, 2025. 2. DISCUSSION ITEMS 3. Discussion on the long-term goals and strategic planning of the Economic Prosperity Commission. DISCUSSION AND ACTION ITEMS Conduct an emergency election for a Vice Chair of the Economic Prosperity Commission. Discussion and possible action on a recommendation regarding Chapter 380 programs. Discussion and possible action on dissolving the Redevelopment Working Group. Nominate commissioners to serve as the Economic Prosperity Commission’s primary and alternate representatives to the Joint Sustainability Committee. WORKING GROUP UPDATES Update from the GBE Working Group regarding a potential recommendation about Chapter 380 programs. Update from the Small Business Working Group regarding scheduling its next working group meeting, discussion of its product and delivery date, and discussions on attempt to reach out to the Economic Development Department for expertise. 10. Update from the Childcare Working Group regarding scheduling its next working group meeting, discussion of its product, and delivery date. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at …
Economic Prosperity Commission Meeting Minutes Wednesday, January 29, 2025 ECONOMIC PROSPERITY COMMISSION REGULAR CALLED MEETING MINUTES Wednesday, January 29, 2025 The Economic Prosperity Commission convened in a regular meeting on Wednesday, January 29, 2025, at 301 W. 2nd Street, Boards and Commissions Room 1101, in Austin, Texas. Chair Nahas called the Economic Prosperity Commission Meeting to order at 6:39 p.m. Commissioners in Attendance in Person: Michael Nahas (Chair) Rodrigo Cantu Aaron Gonzales Amy Rister Commissioners in Attendance Remotely: Amy Noel Ofelia Zapata PUBLIC COMMUNICATION: GENERAL None present. DISCUSSION ITEMS 1. Presentation regarding childcare funds in Travis County and related changes with recent ballot measures. Presentation by Pilar Sanchez, County Executive for Health & Human Services, Travis County. Presentation provided by Pilar Sanchez, County Executive for Health & Human Services, and Korey Darling, Division Director for Research and Planning, Travis County APPROVAL OF MINUTES 2. Approve the minutes of the Economic Prosperity Commission Regular Meeting on November 20, 2024. 1 Economic Prosperity Commission Meeting Minutes Wednesday, January 29, 2025 The minutes were approved without objection on Chair Nahas’ motion on a 6-0 vote. Commissioners Dixon, Hitchingham, Ponder, and Valdez Sanchez were absent. Approve the minutes of the Economic Prosperity Commission Regular Meeting on October 19, 2022 and Special Called Meeting on August 30, 2021. The August 30, 2021 minutes were approved without objection on Chair Nahas’ motion on a 6-0 vote. Commissioners Dixon, Hitchingham, Ponder, and Valdez Sanchez were absent. No action was taken on the October 19, 2022 minutes. DISCUSSION ITEMS CONTINUED Discussion of proposed reorganization of Boards and Commissions based on Austin City Council Resolution No. 20241212-133. Discussion was held. Discussion of the role of the Economic Prosperity Commission’s representative on the Joint Sustainability Committee and potential nominations at the February meeting. Discussion was held. DISCUSSION AND ACTION ITEMS Discussion and possible action on setting deadlines for working group outputs. Discussion was held. WORKING GROUP UPDATES Update from the Global Business Expansion working group regarding scheduling future working group meetings and its research on potential changes to the City’s Chapter 380 agreements. Update provided by Commissioner Rister. Update from the Small Business working group regarding scheduling its next working group meeting and opportunities to support the Small Business division with marketing, community engagement, and language accessibility. Update provided by Commissioner Gonzales. Update from the Redevelopment working group regarding scheduling its next working group meeting and what it has learned …
Economic Prosperity Commission REGULAR CALLED MEETING MINUTES Wednesday, October 19, 2022, 6:30 pm The Economic Prosperity Commission convened in a REGULAR CALLED meeting on Wednesday, October 19, 2022, at 301 W. 2nd Street, Austin, TX 78701. Vice Chair Kirsha Haverlah called the Economic Prosperity Commission meeting to order at 6:30 pm. Board Members/Commissioners in Attendance: Vice Chair Kirsha Haverlah, Micahel Nahas Board Members/Commissioners in Attendance Remotely: Preston Tom, Amy Noel, Ryan Kurtz, Shayna Brown Absent: Chair Kelsey Hitchingham, Christiana Ponder, Nathan Ryan, Will Townsend Vacancy: District 3 PUBLIC COMMUNICATION: GENERAL Chase Wright speaking from Springdale Park Neighbors APPROVAL OF MINUTES 1.Approve the minutes of the Economic Prosperity Commission Regular Meeting on September 21, 2022. Minutes from the 9/21/2022 meeting approved on Michael Nahas’s motion, Preston Tom’s second. Vote 6-0 to approve. DISCUSSION ITEMS 2.Staff briefing regarding new commission members. DISCUSSION AND ACTION ITEMS 3.Discussion and possible action for 2023 Meeting Schedule Motion to establish 2023 calendar for third Wednesday of each month at 6:30pm on Michael Nahas’s motion, Ryan Kurtz’s second. Vote 6-0 to approve. WORKING GROUP/COMMITTEE UPDATES 4.Update from Intercommission working group 5.Update from Joint Sustainability Commission member report 6.Update from Reproductive Health working group Vice Chair Kirsha Haverlah adjourned the Economic Prosperity Commission meeting at 7:50pm. These minutes were approved at the (date) (member)’ s motion, (member) second on a (X-Y) vote.
COMMISSION RECOMMENDATION Economic Prosperity Commission Recommendation Number: 20250219-005: Chapter 380 Programs WHEREAS, Austin City Council recently approved changes to the Chapter 380 Program under Ordinance No. 20240926-013. WHEREAS, The revised Chapter 380 program guidelines indicate that specific goals for program and project metrics will be defined during the rule promulgation and development phase within the first year of implementation. Effectively, pausing the program for one year. WHEREAS, Publishing a temporary scoring matrix would allow applications to be processed in 2025 and ensure that economic development efforts are not stalled during this transition period. WHEREAS, The new program guidelines emphasize the importance of addressing market conditions and supporting “high-impact” projects, stating that unique and market-competitive projects may be considered on a case-by-case basis. WHEREAS, The City of Austin and Travis County have developed a comprehensive Food Plan, designed to address long-term infrastructure needs. The need to urgently address food and nutrition resources is apparent. WHEREAS, The Del Valle has been identified as low-income, low-access area (formerly identified as a “food desert”) by the USDA. This region has long faced challenges related to food accessibility, which directly impacts economic opportunity and community well-being. WHEREAS, By aligning economic incentives with meaningful community benefits, the City can leverage the Chapter 380 Program to drive equitable economic development while addressing critical public health needs. Addressing food access in Del Valle is a strategic use case for economic development incentives. WHEREAS, Leveraging lessons learned from recent public-private partnerships, we will seek to have community input from the populations most impacted from the outset and at every stage of the process. While bearing in mind the need to move at the greatest speed possible to meet community need. NOW, THEREFORE, BE IT RESOLVED that the Economic Prosperity Commission recommends that the City publish a temporary scoring matrix for Chapter 380 Programs; BE IT FURTHER RESOLVED that the Economic Prosperity Commission recommends that the City develop an incentive program that directly supports businesses and initiatives that enhance access to healthy food options in Del Valle. Date of Approval: February 19, 2025 Record of the vote: Motioned by: Chair Michael Nahas Seconded by: Commissioner Amy Rister Vote: 8-0 Against: None Abstain: None Absent: Commissioners Attest: _____________________________________________ For: Chair Nahas, Commissioners Gonzales, Hitchingham, Noel, Rister, Valdez Sanchez, Zapata
Regular Called Meeting of the Economic Prosperity Commission Wednesday, January 29, 2025, 6:30pm City Hall, Boards & Commissions Room 1101 301 W. 2nd Street Austin, Texas Some members of the Economic Prosperity Commission may be participating by videoconference. Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Ryan Sperling, 512- 874-3568, ryan.sperling@austintexas.gov. CURRENT BOARD MEMBERS/COMMISSIONERS: Michael Nahas, Chair Rodrigo Cantu Aaron Gonzales Amy Noel Amy Rister Ofelia Zapata Luis Osta Lugo, Vice Chair Laura Dixon Kelsey Hitchingham Christina Ponder Raquel Valdez Sanchez AGENDA CALL TO ORDER PUBLIC COMMUNICATION: GENERAL The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approve the minutes of the Economic Prosperity Commission Regular Meeting on November 20, 2024. Approve the minutes of the Economic Prosperity Commission Regular Meeting on October 19, 2022 and Special Called Meeting on August 30, 2021. 2. DISCUSSION ITEMS Discussion of proposed reorganization of Boards and Commissions based on Austin City Council Resolution No. 20241212-133. Discussion of the role of the Economic Prosperity Commission’s representative on the Joint Sustainability Committee and potential nominations at the February meeting. DISCUSSION AND ACTION ITEMS 5. WORKING GROUP UPDATES 6. Discussion and possible action on setting deadlines for working group outputs. Update from the Global Business Expansion working group regarding scheduling future working group meetings and its research on potential changes to the City’s Chapter 380 agreements. Update from the Small Business working group regarding scheduling its next working group meeting and opportunities to support the Small Business division with marketing, community engagement, and language accessibility. Update from the Redevelopment working group regarding scheduling its next working group meeting and what it has learned from the Colony Park development project. Update from the Childcare working group regarding scheduling its next working group meeting and what it has learned about hurdles and costs of opening new childcare centers. FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications …
Economic Prosperity Commission Special Called Meeting Minutes Monday, August 30, 2021 The Economic Prosperity Commission convened in a special called meeting on Monday, August 30, 2021 via videoconferencing. Chair Amy Noel called the Economic Prosperity Commission Meeting to order at 5:55pm. Commissioners in Attendance Remotely: Larry Anazia – District 1 Kirsha Haverlah – District 2 Alexis Taylor – District 3 Will Townsend – District 6 Chair, Amy Noel – District 7 Vice Chair, Nathan Ryan – District 8 Commissioners Absent: Rachel Green – Mayor’s Appointee Ivanna Neri – District 4 Preston Tom – District 5 Vacant – District 9 Kelsey Hitchingham – District 10 PUBLIC COMMUNICATION None present. NEW BUSINESS 3.C. Presentation by Cathy McHorse from United Way for Greater Austin Cathy McHorse of United Way for Greater Austin spoke about the Success by 6 program No additional new business taken up. APPROVAL OF MINUTES No minutes approved. OLD BUSINESS ADJOURNMENT No old business taken up. Meeting adjourned at 7:20 pm by Commissioner Noel due to loss of quorum. These minutes were approved at the __________ meeting on ________ motion, ________ second on a X-X vote.
