Prop 2

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

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1 Response to “Prop 2”


  1. 1 Jane Kim November 8, 2008 at 9:26 am

    So Prop 2 was defeated, right? I guess “keeping our word” and all is all good, but I don’t like that they stress the “financial burden” on tax-payers when in reality they say that there is a clause in the contract with Domain that Austin City can walk away from the deal whenever they want without any monetary penalty. And I think it’s a little sad that the city doesn’t put more effort into supporting local businesses as well. Doesn’t the Domain make enough money without tax subsidies?


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