Posted Sep 22, 2016, 10:51 PM
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Meh
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Join Date: Jul 2001
Location: Austin <------------> Birmingham?
Posts: 57,327
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The city is planning a bond type initiative that will help buy music venues in Austin to preserve them. This will come at no cost to taxpayers.
https://communityimpact.com/austin/c...nues-10m-fund/
Quote:
Mayor announces plan to protect Austin music venues through $10M fund
By JJ Velasquez
September 22, 2016
Iconic Austin music venues will be purchased and preserved through a city trust, which Mayor Steve Adler’s office announced today has been made possible after the city won a national contest.
The city was among five public entities announced today as winners of the Neighborly Bonds Challenge. Winning the contest provides the city with legal, administrative, marketing and other support services for free or at reduced rates. These services would have cost $100,000.
“This is going to give us an opportunity to try something that really has never been tried anywhere else,” Adler said. “This is going to give us the support we need to try to crowdsource in our community a $10 million fund to … help preserve some of our music venues.”
Adler clarified that the fund does not create a tax on Austin residents but would crowdsource funding for investing in music venues and making it more affordable to sustain them.
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http://www.bizjournals.com/austin/ne...ic-venues.html
Quote:
Austin to create $10M fund to preserve music venues
Sep 22, 2016, 10:46am CDT Updated Sep 22, 2016, 2:16pm CDT
Michael Theis
Staff writer
Austin Business Journal
Austin plans to create a $10 million investment vehicle to buy or preserve music venues, but no taxpayer money will be involved, according to Mayor Steve Adler.
Calling it a "minibond" plan to save Austin music venues, Adler announced during Thursday's City Council meeting that Austin was selected as one of five winners of the "Neighborly Bonds Challenge," a competition to find public agencies, such as city governments, with deserving proposals for investment on local projects.
“In any sector, this kind of rapid job loss would be troubling — particularly when struggling businesses point to a chaotic regulatory system and weak public policy as proximate causes, as we saw in the census. It’s clear that it’s time for city leadership to act," Bobby Garza, chairman of the AMP board, said at the time.
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