Austin Institutes Business Assistance Fee

Businesses looking to get economic development assistance from the city of Austin will have to start paying a new fee.

The Austin city council approved a resolution requiring folks seeking economic development aid to pay one thousand dollars to the city when they submit their full application. City officials say the fee will cover the cost of processing those applications.

The resolution also requires businesses to pay any additional costs incurred by the city, such as attorney or consultant fees, before any approved subsidies take effect.

Some other cities have adopted this practice, especially for incentive requests. The question is how will Austin businesses react to the new feee.