With new development threatening quirky non-chain restaurants and other retail stores, the City of Austin wants to create a fund to support and attract certain types of downtown businesses.
Mindful of a protracted battle between developers of a new Marriott hotel and popular mom-and-pop restaurant Las Manitas in this city's downtown, Austin officials are considering means to ensure that certain types of businesses are not displaced by large-scale development.
"They plan to create a fund to support and attract shops, restaurants and other businesses on Congress Avenue from Town Lake to the Capitol. The money would come from a portion of the development fees for new Congress Avenue projects."
"Many details must be worked out, including establishing criteria for businesses that would qualify for help and deciding what fees would go into the fund."
"The proposal eventually could end a monthslong rancorous debate about a proposed $185 million Marriott hotel complex that will displace the popular Las Manitas restaurant, a day-care center and a folk art store."
FULL STORY: New deal could help downtown shops, eateries
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