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Why Stop Domain Subsidies?
In 2003, the Austin City Council decided, with a 6 to 1 vote, to grant the developers of the Domain -- Endeavor Real Estate Group -- $25 million in tax incentive giveaways. Brian Rodgers, a longtime local Austin commercial investor, heard about it and thought, 'Why are we subsidizing a high-end retail mall to compete with local Austin businesses?' He reviewed the deal and crunched the numbers only to realize that the giveaway wasn't $25 million, it was over $60 million! Very soon, Endeavor, will be back to the city asking for the same deal, another $60 million, for Domain II.
Brian Rodgers, leader of Stop Domain Subsidies (SDS), has been trying to reason with the City of Austin since 2003 urging that they not use tax dollars to fund the high-end Domain Mall. His lawsuit settled in 2004 allows the City to walk away from the deal with no recourse or damages. This website gives you the documents that reveal the story, the deal, and includes a copy of the settled lawsuit.
Because the developer misrepresented major parts of the deal, the City is under no ethical obligation to continue. Please urge the City officials to use the money for other purposes like our parks, our health, our safety or a tax cut.
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