The Price of Smart Growth

A Summary of Incentives for Smart Growth

Since late 1998, the Austin City Council has awarded over $100 million in subsidies for new corporate buildings, downtown office, retail and residential projects, and big, all-encompassing developments like the Triangle Project near Hyde Park. City officials say such incentives are needed to achieve Smart Growth goals of shifting development into downtown and other Desired Development Zones and away from environmentally sensitive areas.

Here's a breakdown of Smart Growth costs:

(PROJECT/CITY INCENTIVES/PROJECT VALUE)

Major Employer Incentives ('99-'00) (in $ millions)

Dell Computer/$14.4/$147

Computer Sciences Corp./$10.4/$150

IBM/Tivoli/$2.2/$110

Intel (project currently suspended)/$10.4/$124

Vignette (project cancelled)/$25.0/$350

Subtotal/$62.4/$881

Project Specific Incentives ('00-'01)

Bennett Tract/$23.0/$300

Triangle/$7.3/$100

Morse TND/$4.9/$126

Fourth & Congress/$1.1/$100

Subtotal/$36.3/$626

Development Incentives ('98-'01)

Sixth + Lamar/$2.10/$70

300 W. Sixth/$1.20/$93

W. Ave. Lofts/Post Properties (Phase 1)/$0.53/$20

W. Ave. Lofts/Post (Phase II)/$0.45/$32

Nokonah Condominiums/$0.28/$36

524 N. Lamar/$0.14/$8

Subtotal/$4.69/$259

Total Approved Incentives/$103.4/$1,766

Source: City of Austin *Based on council estimates

A note to readers: Bold and uncensored, The Austin Chronicle has been Austin’s independent news source for almost 40 years, expressing the community’s political and environmental concerns and supporting its active cultural scene. Now more than ever, we need your support to continue supplying Austin with independent, free press. If real news is important to you, please consider making a donation of $5, $10 or whatever you can afford, to help keep our journalism on stands.

Support the Chronicle  

NEWSLETTERS
One click gets you all the newsletters listed below

Breaking news, arts coverage, and daily events

Can't keep up with happenings around town? We can help.

Austin's queerest news and events

Eric Goodman's Austin FC column, other soccer news

Information is power. Support the free press, so we can support Austin.   Support the Chronicle