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

This article appears in July 6 • 2001.

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