Austin-based businesses have joined together with community leaders and citizens to stop the City of Austin from giving $65+ million in tax subsidies to the Domain Mall in NW Austin.
7 DEVELOPER MISREPRESENTATIONS

  1. Developer never needed the incentives since the profit already totaled $28 million.
  2. Developer exaggerated wage levels of workers.
  3. Developer exaggerated costs of tenant finish in order to claim the project was not feasible unless the City of Austin participated.
  4. Developer exaggerated the amount of public areas.
  5. Developer exaggerated early revenue benefits on financial calculations.
  6. Developer exaggerated property tax benefits.
  7. Developer under-projected sales tax receipts to hide developer’s real expected income.

LEGAL SETTLEMENT ALLOWS NONPAYMENT


ORIGINAL AGREEMENT (Chapter 380 Agreement). This is the original governing document for the incentives.


OPEN RECORDS DENIED
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