Austin Young Chamber’s LEAD Summit

Austin Young Chamber’s LEAD Summit

Are you ready to LEAD? Join other young professionals for the Austin Young Chamber’s virtual LEAD Summit on Feb 19 for a full day of professional development, community and civic engagement, and personal growth! The LEAD Summit (Learn | Explore | Act | Develop) is a one-day conference combining learning and action. The Summit strengthens the pipeline of leaders in Central Texas through education, connection, and engagement. Grab your seat here! See a list of speakers here!

Austin Live Music Preservation Fund Open

Good news for live music venues in danger of closing: the City of Austin Economic Development Department has opened applications for emergency relief grants from the Austin Live Music Preservation Fund, for which $5 million was mobilized through the Save Austin’s Vital Economic Sectors (SAVES) resolution, originally announced in September. The funds will be administered by The Long Center For The Performing Arts.

Eligible live music venues must be located in a City of Austin Council District and must meet or exceed the City’s COVID-19 safety guidelines. For those in immediate danger of closing, $20k grants will be available this month, with up to $140k in additional funding (up to $40k monthly) available for those who qualify. Legal and accounting services, real estate advice and guidance on lease negotiations, and other professional services and long-term planning from community experts will also be available to venues receiving emergency funding.

For eligibility guidelines and application, visit www.thelongcenter.org/saveaustinvenues. For questions and application assistance, contact the Long Center by email at saveaustinvenues@thelongcenter.org or by phone 512-457-5181.

Applications close Monday, January 11, 2021 at 5 p.m.

SAVES Fund Update

In October, the Austin City Council approved Ordinance No. 20201001-052, which authorized the development of three grant programs that together are referred to as Save Austin’s Vital Economic Sectors (SAVES). These programs seek to provide immediate relief for live music venues, art venues, restaurants and bars, and childcare facilities. 
The current plan is to expand and modify the Chapter 380 program to address the needs of the business community impacted by the COVID-19 pandemic. A draft of the Chapter 380: Recovery Lease Incentive Program is available here (see item 11).  While not yet finalized, the preliminary list of eligibility requirements hints at a broad scope of eligible types of businesses by including those in adjacent sectors to those named in the original resolution.
This item was postponed at the November 12th Austin City Council meeting and should be on the December 3rd agenda. Stay tuned for updates!
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Global pandemic or not, AIBA works tirelessly to support and advocate for Austin’s local business community. Reach out to us via email at hello@ibuyaustin.com

City Council Approves SAVES Resolution for Vital Economic Sector Assistance

The Austin City Council approved the Save Austin’s Vital Economic Sectors or “SAVES” Resolution late last night. The resolution (item 62 here) calls for the city manager to investigate a wide variety of funding sources that could contribute to financially supporting local music venues, art venues, restaurants, bars, and child care centers as the economic fallout from the pandemic continues. 

Acknowledging the need for creative ideas, there were many funding ideas proposed. Detailed plans regarding those proposals will be investigated by the city manager and presented at the September 29th work session for voting at the October 1st council meeting. While funding is not immediately available, this is an important step towards more financial support from the city for Austin’s struggling service industry. 

Imminent and generous state and federal funding are still needed to ensure the recovery of these and other hard hit industries in Austin.

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Global pandemic or not, AIBA works tirelessly to support and advocate for Austin’s local business community. Reach out to us via email at hello@ibuyaustin.com

Austin Small Business Relief Grant Stats

The City of Austin’s Small Business Relief Grant Program awarded grants to 885 small and local businesses with a total of $16.2 million in funds dispersed. The demand far outstripped the supply of funds almost immediately, and 35% of applicants received funds.  The top sector, with 180 grants awarded, was Restaurants, Clubs and Bars with $4.3M in grants. Arts, Entertainment and Recreation businesses, with 101 grants awarded, received $1.4M followed by 104 Personal Care Services businesses who received $1.3M. Further details about the funding received by sector are available here.

This grant program provided much needed financial help to small and local businesses who were selected, but the need for more funding like this is urgent and ongoing. 

Austin City Council continues to explore other ideas to provide more assistance to Austin’s small and local businesses. Stay tuned for updates!

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Global pandemic or not, AIBA works tirelessly to support and advocate for Austin’s local business community. Reach out to us via email at hello@ibuyaustin.com

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