Authorize negotiation and execution of an amendment to the interlocal agreement with the Austin Economic Development Corporation d/b/a Rally Austin to clarify Rally Austin’s authority in real estate development, project financing, and public-private partnerships, and streamlining processes for more effective project execution. Funding: This item has no fiscal impact.

Summary

The City Council will authorize the negotiation and execution of an amendment to the interlocal agreement with Rally Austin (Austin Economic Development Corporation). This amendment aims to clarify Rally Austin's authority in real estate development, project financing, and public-private partnerships, and to streamline processes for more effective project execution. This action follows an initial agreement from June 10, 2021, and is intended to enhance Rally Austin's capacity to deliver high-impact community benefit projects and advance the City's long-term goals. This item has no fiscal impact.

Citizen Impact

This amendment will streamline processes for real estate development and public-private partnerships managed by Rally Austin, potentially leading to more efficient delivery of community benefit projects.

Confidence

high