BG Reads | News You Need to Know (July 1, 2021)
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[MEETING/HEARINGS]
The Austin Council next meets for regular business on July 22.
[AUSTIN METRO NEWS]
Austin's Design Commission criticizes 'broken' Downtown Density Bonus Program, questions efficiency (Austin Business Journal)
The fate of a common tool developers use to plan towers in downtown Austin is unknown after members of the Austin Design Commission blasted the effectiveness of the program at a recent meeting.
City leaders have been retooling the Downtown Density Bonus Program in recent months to bring the program up to date with current market conditions, which means higher fee requirements for added density in tower projects. As part of Council direction, city staff on June 28 presented the Design Commission with a handful of potential policy changes that could impact the ability for developers to exceed the program's cap on floor-to-area ratios.
Staff was hoping to receive a recommendation from the commission to present to Council later this summer, but several commission members struggled to get past the feeling that the program isn't working as intended, some going as far to call it "broken" and "a failure" in its current form. Commissioners decided to form a working group that will meet in the coming weeks to nail down a recommendation for Council to consider later this summer, though they were able to come to an agreement on recommendations for changes to the streetscape requirements.
"I just think the whole thing is broken, honestly," said Chairman David Carroll. "I think having these Band-Aids and increasing the fees — I just don't see the point with it. ... I think there needs to be a complete overhaul of the system and possibly get rid of FAR caps all together."
Any changes that come from this ongoing conversation among city leaders could impact how developers plan towers downtown, which would trickle down to other mounting issues like affordability and housing stock concerns. It also rests against the wider backdrop of Austin's outdated land development code, which city leaders could address later this summer.
Density bonuses allow developers to exceed the typically allowed floor-to-area ratios, or FAR, which translates into taller buildings for small downtown sites. In return, developers are asked to provide on-site affordable housing or provide fees-in-lieu, as well as meet green building standards, streetscape requirements and urban design guidelines. City leaders have taken the initial steps to match fees to current market conditions and boost affordable housing efforts — the previous fee calculations were from 2014 — which has resulted in calculations that could result in millions of added dollars not previously required from developers. The fees go towards the city's affordable housing fund, which is intended to fund affordable housing development. (LINK TO STORY)
First phase of giant East Austin project to include office space, 370 apartment units (Austin American-Statesman)
The first phase of a major mixed-use development planned along East Riverside Drive in Austin will include more than 400,000 square feet of office space, 370 apartment units and 12,000 square feet of retail space, the developers said Wednesday.
This first phase is just the beginning for the River Park project, which is a 109-acre site that developers say could eventually include 10 million square feet of new development and could have a total value of more than $4 billion. The master plan envisions office, retail, hotel, entertainment and residential uses.
Located just east of software giant Oracle’s Austin headquarters, the 109 acres are bordered by Roy G. Guerrero Colorado River Metro Park, East Riverside Drive, Pleasant Valley Road and Country Club Creek.
Presidium is developing the project along with Partners Group, a global private markets investment manager that invests on behalf of about 900 institutional investors. Presidium and Partners Group began assembling the properties for the Riverside project in 2017. Previously known as 4700 East Riverside, the project was rebranded as River Park, and is expected to be built in phases over the next 10 to 20 years.
Plans ultimately call for more than 30 acres of publicly accessible open space, parkland and urban trails leading into Guerrero Park.
The first phase of the project will involve about 15 acres east of Wickersham Lane, along the frontage of Riverside Drive, according to the developers. Included in that first phase will be a 2-acre park east of Wickersham Lane and adjacent to Country Club Creek…(LINK TO STORY)
Group launches effort to put decriminalizing pot, ban on no-knock warrants on Austin’s November ballot (KUT)
Austin effectively decriminalized marijuana last year. It also effectively banned no-knock warrants, the controversial police tactic that led to the deaths of Breonna Taylor and Atatiana Jefferson.
But those policies are more or less guidelines. They're not formally enshrined in the city's charter.
A group of city leaders, criminal justice advocates and political operatives wants to change that, and it's begun a petition drive to get those measures on the ballot in November.
At an event Wednesday morning, Mike Siegel, political director for the left-leaning voting rights nonprofit Ground Game Texas, said the effort aims to both draw voters to the polls and address disparities in criminal justice and policing.
"What we're trying to do is advance the cause of criminal justice reform, moving away from biased police practices ... that disproportionately target Black and Latino communities," Siegel said, "and we're also trying to get voters excited to participate in local politics."
Siegel was joined by fellow former Democratic congressional candidate and Ground Game co-founder Julie Oliver and Austin City Council members Vanessa Fuentes and Greg Casar.
Casar pushed for the council-directed decriminalization of pot and the no-knock warrant ban — both of which were met with pushback from the Austin Police Department, which said it must follow state law, not City Council decree. The ballot proposition, if passed, would require APD to comply, because both the ban on no-knock warrants and the mandate to halt marijuana arrests would be added to the city's charter.
Despite some movement to legalize pot at the state level, it's still an illicit substance in Texas. Asked whether the decriminalization effort would run afoul of state law, Casar said he didn't believe it would. He said cities can amend their own charters and that Austin voters should be able to prioritize what issues the city should focus on.
"We have way more serious issues to deal with. We want to address affordability. We want to address civil rights. We want to address safety," he said, in front of the Willie Nelson statue outside the ACL Live Theater downtown. "And under state law, the voters have the authority to say, 'Let's not spend millions of dollars in the city of Willie Nelson to be chasing people around for pot.'"
The push is the latest example of a now-common tactic to use petitions to tweak, reinstate or throw out divisive city policies in Austin. Citizens must first get 20,000 signatures from Austin residents on a petition. Those signatures are then submitted to the city clerk for verification. If they're valid, the measure is put on the ballot.
The practice has been around for decades, and since 2016, when ride-hailing regulations were put to Austin voters through petition-backed referendum, they've become increasingly common. The most recent example of the tactic's success is Proposition B, a petition that reinstated Austin's ban on public encampments and certain behavior related to homelessness… (LINK TO STORY)
[TEXAS NEWS]
Texans will soon be able to buy beer and wine before noon on Sundays (Houston Chronicle)
Waiting until noon to purchase wine and beer in stores will soon be a thing of the past for Texans thanks to an update in the state's current "blue law." The Texas Alcoholic Beverage Code, commonly known as the "Texas blue law," was enacted in 1961 as a way to regulate shopping on Sundays and observe it as a day of worship or rest. It prohibited the sale of 42 specific items including cars, liquor, knives, pots, pans and even washing machines. It was repealed in 1985, however, some remnants of the old-fashioned law linger, like the prohibition of the sale of cars and liquor. But part of that will change September 1 thanks to the passing of House Bill 1518 in the Texas legislature, which would allow the purchase time of beer and wine to start at 10 a.m. rather than the existing 12 p.m.
The two-hour jump allows bars and restaurants to sell alcoholic drinks with food service and stores to sell beer and wine earlier, but it will not eliminate the in-store ban on liquor sales on Sundays. This bill started with hotel guests in mind. Its purpose was to authorize the sale of alcoholic beverages in hotel bars at any time, according to the bill analysis. Although guests at many hotels are provided "mini-bars" in their rooms, they were only allowed to purchase and consume drinks at the hotel bar during certain hours. And when the hotel bar is closed, hotel guests were limited to drinking in their rooms.. "These restrictions on the hours for selling alcoholic beverages in hotel bars may hamper the Texas tourism and hospitality industries which have suffered tremendously during the Covid-19 pandemic," according to the sponsor statement by Senator Kel Seliger… (LINK TO STORY)
State Rep. James White announces primary challenge to Agriculture Commissioner Sid Miller (Texas Tribune)
State Rep. James White, R-Hillister, announced Wednesday that he is running for agriculture commissioner, marking the first major primary opponent for incumbent Sid Miller.
"The combination of my proven conservative record, experience on agriculture issues, and commitment to integrity and ethics makes me the right candidate to steer this crucial agency back in the right direction," White said in a news release.
The announcement made official a move White had been teasing since he announced earlier this month that he would not seek reelection to the Texas House after six terms in office. The only Black Republican in the Legislature, White chairs the House Homeland Security and Public Safety Committee. He previously served on the Agriculture and Livestock Committee.
Miller considered running for governor in 2022, challenging fellow Republican Greg Abbott, but announced earlier this month that he would instead run for reelection as agriculture commissioner. Miller won a second term in 2018 after facing two primary challengers and prevailing with 56% of the vote.
Miller did not immediately respond to a request for comment on White's candidacy.
In his announcement, White offered thinly veiled contrasts with Miller over his personal controversies over the years, which include spreading fake news on Facebook and using taxpayer dollars for two trips involving personal activities, including getting a medical injection in Oklahoma called the "Jesus Shot." The Texas Rangers investigated the trips, and Travis County prosecutors eventually opted against bringing criminal charges.
White said in the news release that Texas "needs competent, statewide leaders."… (LINK TO STORY)
Texas among U.S. regions at elevated risk of summer power shortfalls, Energy Department says (Houston Chronicle)
The Energy Department said many U.S. regions, including Texas, are at an increased risk of potential power shortages this summer as extreme heat waves cause air conditioning use to soar. Energy officials, citing a seasonal report from the nonprofit regulator North American Electric Reliability Corp., said above average temperatures are forecast across much of North America this summer, raising the risk of rolling power outages like those seen during the California wildfires or the February freeze in Texas. The Energy Department warned that electricity supply shortages may occur along the West Coast, Texas, New England and parts of the Midwest.
“Above-normal summer heat increases electricity demand from temperature-dependent loads, such as air conditioning, and can reduce electricity supplies if power plant outages or reduced output stem from heat-related issues,” the Energy Department said Wednesday. “Wide-area heat waves can challenge grid operators and may limit electricity transfers because the electricity is needed to meet local electricity demand.” These forecasts are already bearing out as heat waves have struck Texas, the West Coast and New England this month, putting a strain on power grids across the country. The Electric Reliability Council of Texas, which oversees the power grid for most of the state, enacted emergency measures this month that called on consumers to conserve electricity by turning up their thermostats and to avoid using large appliances… (LINK TO STORY)
[NATIONAL NEWS]
Cheney, Kinzinger are sole GOP votes for Jan. 6 select committee (The Hill)
Only two of the 10 House Republicans who voted to impeach former President Trump for inciting the Jan. 6 insurrection, Reps. Liz Cheney (Wyo.) and Adam Kinzinger (Ill.), backed creating a select committee to investigate the attack on the Capitol.
While 35 House Republicans voted last month to create an independent bipartisan commission to investigate Jan. 6, only two of them endorsed a House select committee in the largely party-line 222-190 vote on Wednesday.
Neither Cheney nor Kinzinger has ruled out the possibility of serving on the committee if asked by Speaker Nancy Pelosi (D-Calif.), who has indicated she may include a Republican among her eight picks for slots on the 13-member panel… (LINK TO STORY)
Wall Street powers through the first half of 2021 with U.S. stocks at record highs (Washington Post)
Wall Street wrapped up the first half of 2021 at record highs, with investors defying pessimistic projections of a broader pullback and pushing past concerns of rising inflation and potential rate hikes. The Dow Jones industrial average advanced more than 210.22 points, or 0.6 percent, to close at 34,502.51 on Wednesday. The S&P 500 edged up 5.70 points, or 0.1 percent, to settle at 4,297.50 and chalked up its 34th record finish of the year. The tech-heavy Nasdaq dropped 24.38 points, or nearly 0.2 percent, to end the session at 14,503.95. Wednesday’s session marked the midway point of a year that saw a new president move into the White House, shift in power on Capitol Hill amid the continuing shocks of the coronavirus pandemic. The three major U.S. indexes are up by double-digit percentages, with the Nasdaq advancing 12.5 percent, the Dow adding 12.7 percent and the S&P 500 surging 14.4 percent since Dec. 31, 2020.
A day earlier, the S&P 500 and the Nasdaq set all-time highs, highlighting Wall Street’s optimism for economic recovery — reinvigorated by widespread vaccinations, businesses ramping up operations and consumers eager to spend after more than a year of restrictions tied to the public health crisis.
“The market action of 2021 is not a surprise to anyone who considered the impact of the vaccine in late 2020,” said David Bahnsen, chief investment officer of the Bahnsen Group, a wealth management firm. More than half of the U.S. population has now received at least one dose of coronavirus vaccine, according to data from the U.S. Centers for Disease Control and Prevention. As of Wednesday, more than 154.2 million have been fully vaccinated. Kristina Hooper, the chief global market strategist at Invesco, emphasized the dramatic changes brought on by the vaccines, which have help fuel an economic comeback. Wall Street also has been bolstered by significant spending from Congress and aggressive monetary policy from the Federal Reserve, she said, while corporate earnings are improving. Investors also appear to be less worried about rising inflation, which had dampened sentiment on Wall Street.
Earlier this month, central bankers signaled that rate hikes could arrive in 2023, sooner than previously projected. The Fed offered a more optimistic reading of the economic recovery, estimating growth to hit 7 percent this year, the fastest calendar-year expansion since 1984… (LINK TO TO STORY)
Trump's family business, CFO are expected to be charged on Thursday In New York (NPR)
The Manhattan district attorney's office is expected to bring charges against former President Donald Trump's family business and its longtime chief financial officer on Thursday, NPR has confirmed.
CFO Allen Weisselberg, who oversaw day-to-day management of the Trump Organization while the former president was in the White House, is expected to face criminal charges for allegedly paying employees off the books to avoid taxes. Among the benefits the Trump Organization is said to have paid for are cars, apartments and private school tuition.
"These are really expensive fringe benefits we are talking about here," says Duncan Levin, an attorney for Weisselberg's former daughter-in-law, Jennifer Weisselberg. "These are multi-million dollar apartments, tuitions to the most expensive private schools in the world, renovations of marble and other high-end appliances. The core of this is serious."
Trump has denied wrongdoing. The office of Manhattan District Attorney Cyrus Vance Jr. and Weisselberg's personal lawyer, Mary Mulligan, declined to comment on the expected indictment. The Trump Organization's attorneys and Trump's personal attorney did not immediately respond to requests for comment.
Vance has been conducting a wide-ranging investigation of possible protracted criminal fraud by the Trump Organization. The probe was launched around the time Michael Cohen, Trump's former personal lawyer, pleaded guilty in 2018 to campaign finance charges tied to "hush money" used to silence women who claimed to have had extramarital affairs with Trump… (LINK TO STORY)