Proposed Recommendation — original pdf

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MUSIC COMMISSION RECOMMENDATION 20240701-11 DRAFT Date: June 25, 2024 Subject: Place-based Enhanced Program Motioned By: Seconded By: Recommendation The Music Commission recommends that City Council support the Place-Based Enhancement Program developed by the Economic Development Department staff. Description of Recommendation to Council The Place-Based Enhancement Program leverages tax reimbursements to incentivize the development and preservation of music venues, creative spaces, and other local businesses which significantly the impact the culture and quality of life in Austin. • Affordable Space: Tax reimbursements will be offered to developers of mixed-use and commercial building projects to include affordable commercial leases for arts and music venues and establishments, small local businesses, and community development projects • Community Impact: Tax reimbursements will support the development of stand-alone high-impact community projects including arts and music complexes, grocery stores in food deserts, childcare facilities, and industry hubs and incubators • Cultural Preservation: Tax reimbursements and potentially other programs will support retention and improvement of existing music venues, creative spaces, and legacy businesses, nonprofits, and co-ops Rationale: • State code (Chapter 380) states that a municipality may establish programs for provision services and grants of public money to promote local economic development and to stimulate business and commercial activity. • An urgent need for affordable small business and creative space continues in Austin, as small local businesses, particularly music and creative enterprises, compete with luxury real estate and high-end retail/restaurant enterprises for limited commercial space • Music and cultural arts in Austin are a core factor in the city’s quality of life, and a significant draw for tourism and large-scale employers. Therefore, it’s critical that the City work to preserve the Austins cultural lifeblood through investment in the local music and arts economies. Vote For: Against: 0 Abstain: 0 Absent: 0 Attest: Shelbi Mitchell 1 of 1