In an attempt to ban tax subsidies for retail developments like The Domain, proposition 2 was put before Austin voters asking them to determine, in essence, the direction that Austin business will go. Voters for the proposition were largely seen as pro-local business, whereas those who were against it highlighted the “broken promises” and financial burden placed on all Austinites if it were to pass.
According to Statesman.com, the prop appears to be headed for a narrow defeat. Put in a little better English, journalist Katie Humphrey writes:
Proposition 2, if approved, would prohibit the city from giving tax incentives to retail developments. It also forces the city to stop payments for existing projects, such as the Domain. If it fails, the city will still be able to make payments to the Domain and offer tax incentives to future retail projects.
The group Stop Domain Subsidies gathered signatures to get the proposition on the ballot. Stay tuned for a final decision tomorrow morning. Maybe Austin doesn’t want to be that weird?
-Jeff



