June 6, 2013
The Austin City Council has voted to approve the transfer of nearly $4,000,000.00 of funds from the Parks and Recreation Department to the Special Revenue fund in order to renovate Auditorium Shores just south of the Colorado River adjacent to downtown Austin, Texas. Auditorium Shores has long been home to numerous events and specifically concerts hosted by the City of Austin.
While many of those city sponsored events during certain times of year have historically been free, other private groups such as the Austin Reggae Festival formerly known as Marley Fest and the Austin Food & Wine Festival have been known to charge sizable prices for admission. The initiative to move $400,000.00 in funds to fund an architectural firm The Broussard Group, Inc. d/b/a TBG Partners and its design plan and $3,500,000.00 in funds to allocate on unspecified changes to Auditorium Shores is predicated on the claim that $3.5 million will be paid back to the City of Austin by C3 Entertainment, the music promotions group who runs the Austin City Limits Music Festival and owns Stubb's Barbecue on Red River Street in downtown Austin.
http://www.kvue.com/news/Austin-City-Council-meeting-210495741.html
http://austin.siretechnologies.com/sirepub/mtgviewer.aspx?meetid=403&doctype=agenda
http://austin.siretechnologies.com/sirepub/cache/2/v2tzdteib5s2waogn2ojx1re/51776406072013120417651.PDF
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