Description
Title: Approve a resolution adopting a Cultural District Funding Model to inform future budgetary recommendations for City-designated Cultural Districts, consistent with the City’s Economic and Cultural District Framework Policy, adopted by Resolution No. 20240926-014. The funding model establishes a framework for considering future investments that support district management, activation, and long-term sustainability. Funding: This item has no fiscal impact.
Summary
The City of Austin's resolution (File ID: 26-1461), adopted on April 23, 2026, establishes a Cultural District Funding Model (CDFM) to guide budgetary decisions for city-designated Cultural Districts. This model aligns with the previously adopted Economic and Cultural Districts Framework Policy, aiming to ensure equitable financial support for recognized Cultural Districts. It affects various stakeholders, including community members, local organizations, and policymakers, by promoting accessibility, diversity, and economic development. The CDFM, developed by the Goodman Corporation, employs an Excel-based tool utilizing twenty metrics across four categories to evaluate funding recommendations. Importantly, it has no fiscal impact on the city budget, ensuring sustainable investment in cultural initiatives.