Austin launches plan to buy, preserve local music venues

Austin City Council Chambers

AUSTIN (KXAN) — Austin’s mayor revealed a new plan to help save the places that make the city the Live Music Capital during Thursday’s city council meeting.

It’s a $10 million plan to buy and preserve some of the city’s live music venues, but the mayor says it won’t cost you a dime.

Mayor Steve Adler and the City won a contest called the Neighborly Bonds Challenge. Neighborly is a company that issues “minibonds” and raises money from people interested in backing community projects.

The mayor says their model means no taxpayer money will be involved.

“We’re going to try things in this community. We have an opportunity to be innovative, creative and do something new to save and preserve our live music venues,” Adler added

The venue preservation plan comes after city leaders approved a resolution in February to take steps to protect Austin’s live music scene.

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