Austin approves $15 million in relief to local music venues, restaurants, and more
KVUE — On Thursday, October, 1, the Austin City Council approved at least $15 million in COVID-19 relief to help live music venues, arts organizations, and child care providers pay for expenses as a result of losses caused by the pandemic.
The funding will be deposited for distribution in the Save Austin's Vital Economic Sectors (SAVES) Fund, which falls under the city's General Fund Emergency Reserve Fund.
At least $6.5 million will come directly from the Financial Services Department Capital Budget ($6 million) and the Building Services Department Capital Budget ($500,000).
The remaining $8.5 million will come from sales tax revenues, according to an amendment to the proposed resolution by Mayor Steve Adler, not the Pay for Success Reserve Fund Operating Budget and Austin Transportation Department Mobility Fund Operating Budget.
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