Lake Travis - Westlake | October 2020


News from Travis County & Austin

Bee Cave City Council Meets second and fourth Tuesdays MEETINGSWE COVER

Tesla CEOElonMusk speaks to newTravis County gigafactory

at 6 p.m. 512-767-6600. Lakeway City Council


Fremont, California, where Tesla is headquartered. Telsa is also constructing factories in both Shanghai and Berlin, according to Musk. Telsa has announced the southeast- ern Travis County factory will produce the new Cybertruck—for which Musk said Tesla has already received around 600,000 orders—and the Model Y car. Site plans led with the county outline a 7.9 million-square-foot manufacturing facility. The current site plans account for development on 280 acres of the 2,100-acre property

Travis County adopts 202021 tax rate were led with Travis County. Musk delivered his update on Tesla’s progress in the last scal year to a sea of his own company’s cars, occupied by shareholders, in TRAVIS COUNTY Tesla CEO Elon Musk spoke on the development progress at the electric carmaker’s Travis County gigafactory at Tesla’s annual shareholders meeting Sept. 22. The upcoming gigafactory, referred to by Musk as “Giga Texas,” is developing quickly, Musk said at the meeting, several weeks after initial site plans

Meets rst (if needed) and third Mondays at 6:30 p.m. online. 512-314-7500. Rollingwood City Council Meets third Mondays at 6:30 p.m. online. 512-327-1838. West Lake Hills City Council Meets second and fourth Wednesdays at 7 p.m. 512-327-3628. Instructions for meeting attendance are at each city’s website.

Tesla CEO Elon Musk spoke at a meeting Sept. 22. (Courtesy Tesla)

Tesla purchased at the intersection of SH 130 and Harold Green Road. Signicant site-clearing work has already taken place on the property, and Tesla representatives have said the facility could open as soon as the fourth quarter of 2021.

CapitalMetrounanimouslyapproves 202021 budget

revenue projections for the upcom- ing year landed squarely between Marneweck’s best- and worst-case projections. Capital Metro estimates it will bring in $251.7 million in sales tax revenue during the FY 2020-21 budget cycle, a $14 million drop from the number it forecasted last year. A much smaller percentage of Capital Metro’s revenue comes from fares paid by passengers. In FY 2020-21, the agency projects it will bring in $15 million, down from $22.5 million CAP METRO FUNDING G A P For scal year 2020-21, Capital Metro expects to have less sales tax revenue at its disposal than it did in FY 2019-20.

forecasted for FY 2019-20, due to the continued eects of COVID-19 on ridership. Marneweck told the board of direc- tors Sept. 28 that a few factors have allowed Capital Metro to weather this loss in revenue without signicantly aecting operations. The agency was in a strong nancial position heading into the pandemic, she said. It also has cut costs—instituting a salary and wage freeze while setting aside some projects it will pursue should economic conditions turn around.


AUSTIN Early in the summer, when Capital Metro began the process of drafting its budget for the upcoming scal year, Chief Financial Ocer Reinet Marneweck said sta would prepare best- and worst-case sce- narios for the public transportation agency’s board of directors regarding revenue. Capital Metro is not funded through property taxes. Instead, it largely relies on a 1% sales tax levied throughout the area it serves. Sales tax revenue took a dive this spring in the wake of government shutdown orders intended to keep the public safe from COVID-19. However, sales have rebounded since April. When the Capital Metro board of directors voted to adopt the agency’s budget for scal year 2020-21 in a 6-0 vote Sept. 28, the sales tax


TRAVIS COUNTY Commissioners Court approved the scal year 2020-21 budget and property tax rate Sept. 29. According to Travis County budget documents, the total budget will rise to $1.29 billion, an increase of more than $80 million from last year’s budget. Commissioner Gerald Daugherty was the lone dissenting vote on adopting the budget and tax rate. The county’s general fund totals $945.04 million in FY 2020-21, a 7.07% year-over-year increase. In order to fund FY 2020-21 budget increase, county commis- sioners approved a total tax rate of $0.374359 per $100 valuation, a 1.4% increase over last year’s tax rate, according to county budget documents.


$251.68 MILLION

$265.68 MILLION

Sales tax revenue FY2019-20 Sales tax revenue FY2020-21


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