Austin Economic Development Corporation

In October 2020, the Austin City Council voted to create the Austin Economic Development Corporation (AEDC). Council approved and adopted the corporation Articles of Incorporation and Bylaws.

The City of Austin created the AEDC as a tool to help local government address multipronged challenges from affordability, homelessness, and equity, to sustaining and growing the small businesses, arts and culture that have made Austin a thriving place. Able to operate nimbly, without duplicating the work of the existing Chamber of Commerce/Opportunity Austin and City of Austin Economic Development Department, the AEDC can bring new financing vehicles and agility to a host of community development projects. This expert panel will examine ways Austin could harness the new nonprofit local government corporation, while bringing national perspective on the catalytic role EDCs have played in other cities, including New York and Atlanta.

AEDC WEBSITE

ULInsight: Austin Economic Development Corporation (AEDC)

Watch this ULInsight for an introduction of the Austin Economic Development Corporation (AEDC). Then watch the January 2021 Virtual Breakfast featuring a deep dive discussion on the AEDC.  

January 2021 Virtual Breakfast: Austin Economic Development Corporation (AEDC)

PANELISTS

Veronica Briseño, Economic Development Director, City of Austin and Interim President and CEO, AEDC
Matthew Kwatinetz, Founder of Q Partners and Consultant, AEDC
Tyrone Rachal, President, Urban Key Capital Partners

MODERATOR: Nina Farrell, Assistant Regional Manager, CBRE

ULI AUSTIN & THE AEDC

ULI Austin has been named as a nominating entity for the Austin Economic Development Corporation (AEDC) board.  To fill this seat, ULI Austin has created the following nomination process.

The seat will be up for nomination again in 2025*.

UPDATE: This seat was originally up for nomination in 2023; however, our 2020 nominee David Steinwedell has been named Board Chair in 2022 and will be extending his term.

2020 Nominee & 2022 Board Chair

David Steinwedell, President and CEO of Affordable Central Texas, will serve on the AEDC board in the ULI Austin seat. As the former Executive Director of ULI Austin, his deep understanding of ULI’s mission will help ULI Austin’s leadership stay updated on AEDC’s activities and align our goals.

Congratulations David! We look forward to your continued leadership within ULI Austin.

UPDATES

APRIL 2022

  • David Steinwedell named Board Chair

JANUARY 2022

SEPTEMBER 2021

APRIL 2021

  • Job Position Available: Chief Transaction Officer for the AEDC
  • The AEDC is seeking proposals from one or more eligible and qualified financial institutions to serve as the bank depository and to provide the depository services. This Request for Proposals (RFP) presents AEDC’s cash management goals, specifies required qualifications for the Banks, the banking services required, the method and terms of compensation, submission instructions and the contract award provision.

    SCHEDULE

    March 26, 2021 Initial distribution of RFP
    April 14, 2021 Deadline for submission of questions
    April 16, 2021 Estimated AEDC response to questions
    April 23, 2021 PROPOSAL SUBMISSION DEADLINE
    May 21, 2021* Anticipated date for approval/award by AEDC

    *date subject to change 

MARCH 2021

  • Cultural Trust Advisory Committee (CTAC) – To ensure community input and transparency, AEDC has established a Cultural Trust Advisory Committee (CTAC). The next CTAC meeting is scheduled for Wednesday, March 24. CTAC’s membership is open to those without a conflict of interest in funding, and you can apply here. CTAC members can apply to be on the evaluation committee that will partner with staff to support evaluation of the Cultural Trust RFP responses. The AEDC will ultimately select the evaluation committee members from those applications that will join staff. Note that CTAC membership requires a high level of participation from its members.
  • Open Position: Chief Transactions Officer (AEDC)

RESOURCES