Economic Development Corporation and Local Government Corporation IFCs

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Kathie Tovo
Posts: 76
Joined: Thu Oct 30, 2014 11:18 am

Economic Development Corporation and Local Government Corporation IFCs

Post by Kathie Tovo » Fri Jul 19, 2019 12:46 pm

Dear Colleagues:

I hope you are having a wonderful July!

I wanted to share with you an IFC that I have launched for the August 8th agenda to create an economic development corporation. As you may be aware, in 2017 I sponsored Resolution No. 20170216-040 directing the City Manager to bring forward specific proposals for creating an Economic Development Corporation or similar entity that could create or support development of affordable housing, redevelopment, revitalization and other priority projects and goals of the City. As mine was a reiteration of an IFC on which former MPT Cole had led several years earlier, the item on the 8/8 agenda will bring to fruition work that has been envisioned for many years.

Confirmed co-sponsors on this item include Council Members Harper-Madison, Alter, and Mayor Adler, and I have invited Council Member Kitchen to co-sponsor. At her request, we included language directing this entity be created with the ability to manage a Cultural Trust. As you may recall CM Kitchen sponsored a resolution in 2018 directing the City Manager to analyze and develop next step strategies to enhance stability, preservation, and creation of creative arts cultural spaces throughout the city.

In addition, I am sponsoring a separate item on 8/8 to create a local government corporation to support homelessness services and housing. This item is currently being reviewed, and I will post it to the message board as soon as it is completed.

http://assets.austintexas.gov/austincou ... 123747.pdf

Many thanks,

Kathie Tovo
Council Member District 9
Council District 9

Ann Kitchen
Posts: 142
Joined: Fri Jan 09, 2015 5:04 pm

Re: Economic Development Corporation and Local Government Corporation IFCs

Post by Ann Kitchen » Thu Jul 25, 2019 12:25 pm

Thank you CM Tovo for moving forward with both of these important resolutions. I appreciate the opportunity (and am confirming) that I will be a co-sponsor on both resolutions.

Best Regards
Ann Kitchen
City Council D5
Ann Kitchen
Council Member District 5

Jimmy Flannigan
Posts: 49
Joined: Thu Jan 12, 2017 9:44 am

Re: Economic Development Corporation and Local Government Corporation IFCs

Post by Jimmy Flannigan » Thu Jul 25, 2019 3:51 pm

Glad to see this will be on the August 8th agenda! As Chair of the Capital Area Economic Development District board (at CAPCOG), this is a key focus area for me. An Economic Development Corporation can help us better leverage resources for the city, the community, and with partners in our region. I'm especially interested in the 2nd "resolved" clause to ensure the EDC is allowed to explore all of the allowed opportunities as defined under state law.
Jimmy Flannigan
Council Member, District 6

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