SAVES Funding Resolution
Posted: Wed Sep 30, 2020 6:56 pm
Colleagues,
Once again, I would like to thank you for your support of the SAVES Resolution to get meaningful support for our most threatened local industries. I also again thank our staff for the their quick and thoughtful response to the SAVES Resolution with proposed funding and recovery program options, along with necessary actions to form the Austin Economic Development Corporation as a tool to aid in our recovery.
Based upon the comments and questions we heard in our work session discussion yesterday, as well as what we are hearing from industry stakeholders, it seems there is support for acting quickly and decisively to aid these industries, but there remain some concerns and questions about the proposed funding sources. In order to allow us to move forward this week so that our staff may begin working as soon as possible to finalize and implement the relief programs, I offer the following recommendations for moving forward this Thursday and our next Council meeting on October 15.
I will move to amend item #52 to strike the amendments of the Pay for Success Reserve Fund Operating Budget (Ordinance No. 20200812-001) to transfer out and appropriate $4,800,000 to the General Fund Emergency Reserve Fund; and the Austin Transportation Department Mobility Fund Operating Budget (Ordinance No. 20200812-001) to transfer out and appropriate $3,700,000 to the General Fund Emergency Reserve Fund. I will post a motion sheet to this effect shortly.
I will also move to table item #53 indefinitely, as an increase to the Transportation User Fee would not now be necessary if Council does not take action this week on the temporary use of right of way fees. I would expect the TUF to potentially be revisited later if the Council decides to revisit the right of way fees at a later date.
In order to make up for the $8.5 Million from the stricken sources, Council Members Renteria, Flannigan, Ellis, Tovo, and I will offer a resolution for Council’s consideration at our October 15 meeting, directing $8.5 Million from the sales tax revenue collected this fiscal year in excess of budgeted projections. Link to draft resolution: http://assets.austintexas.gov/austincou ... 84912.docx .
This action would allow us to move forward now with the SAVES activities, with the three relief funds at $15 Million total, with the hope and expectation that over the next several weeks Council and city staff will continue to explore these and other revenue sources to build upon the good start represented by the SAVES resolution to help preserve these critical industries, as we all seem to agree that more needs to be done than is possible within our existing local resources.
-s
Once again, I would like to thank you for your support of the SAVES Resolution to get meaningful support for our most threatened local industries. I also again thank our staff for the their quick and thoughtful response to the SAVES Resolution with proposed funding and recovery program options, along with necessary actions to form the Austin Economic Development Corporation as a tool to aid in our recovery.
Based upon the comments and questions we heard in our work session discussion yesterday, as well as what we are hearing from industry stakeholders, it seems there is support for acting quickly and decisively to aid these industries, but there remain some concerns and questions about the proposed funding sources. In order to allow us to move forward this week so that our staff may begin working as soon as possible to finalize and implement the relief programs, I offer the following recommendations for moving forward this Thursday and our next Council meeting on October 15.
I will move to amend item #52 to strike the amendments of the Pay for Success Reserve Fund Operating Budget (Ordinance No. 20200812-001) to transfer out and appropriate $4,800,000 to the General Fund Emergency Reserve Fund; and the Austin Transportation Department Mobility Fund Operating Budget (Ordinance No. 20200812-001) to transfer out and appropriate $3,700,000 to the General Fund Emergency Reserve Fund. I will post a motion sheet to this effect shortly.
I will also move to table item #53 indefinitely, as an increase to the Transportation User Fee would not now be necessary if Council does not take action this week on the temporary use of right of way fees. I would expect the TUF to potentially be revisited later if the Council decides to revisit the right of way fees at a later date.
In order to make up for the $8.5 Million from the stricken sources, Council Members Renteria, Flannigan, Ellis, Tovo, and I will offer a resolution for Council’s consideration at our October 15 meeting, directing $8.5 Million from the sales tax revenue collected this fiscal year in excess of budgeted projections. Link to draft resolution: http://assets.austintexas.gov/austincou ... 84912.docx .
This action would allow us to move forward now with the SAVES activities, with the three relief funds at $15 Million total, with the hope and expectation that over the next several weeks Council and city staff will continue to explore these and other revenue sources to build upon the good start represented by the SAVES resolution to help preserve these critical industries, as we all seem to agree that more needs to be done than is possible within our existing local resources.
-s