May 24 Austin City Council update: Economic incentives, I-35 funding OK'd

• Item 78: Places a charter amendment on the November ballot requiring special reporting of campaign contributions made in the last nine days before an election.

I-35 Corridor funding

• Item 45: Authorizes Advance Funding Agreement between the City of Austin and the Texas Department of Transportation that awards the city $1,200,000 to extend the program limits of the I-35 Corridor Development Program to study mobility improvements.

Yellow Cab Co. franchise renewal

• Item 73 (passed on first reading): Renews franchise to Yellow Cab Co. to operate a taxicab service in the City of Austin for five years. Councilwoman Kathie Tovo was the lone "no" vote.

Lake Austin Task Force

• Item 83: Creates the Lake Austin Task Force to study and recommend changes needed to promote, preserve and protect Lake Austin.

City of Austin special events team

• Item 89: Creates a special events team comprised of staff from various city departments to assist in the planning and implementation of temporary special events in the city.

Austin Java City Hall lease

• Item 23: Permits Austin Java City Hall, L.P. to assign its interest in its lease with the City of Austin to Lickona's City Hall, LLC and to amend the lease to modify the rent structure, allow physical interior and exterior changes, add one additional five-year renewal option, increase the security deposit and permit live music.

Joe's Crab Shack site sale

• Item 24: Authorizes purchase of the property located at 600 E. Riverside Drive (Joe's Crab Shack) from Garwald Company Inc. and the deposit of $200,000 in refundable earnest money for the transaction, for a total earnest money deposit in an amount not to exceed $250,000.

Among the items of interest on the agenda postponed:

Short-term rentals

• Item 140: Conduct a public hearing regarding the short-term rental of residential units. Postponed until June 7.

Imagine Austin

• Item 135: Conduct a public hearing on the city's proposed 30-year comprehensive plan. Postponed until June 14.

2012 Charter Revision Committee recommendations

• Item 79: Place a charter amendment on the November ballot enhancing reporting of independent expenditures in city elections. Postponed until June 7.

ATMOS Energy Corporation rates

• Item 134: Conduct a public hearing regarding ATMOS Energy Corporation's proposal to increase customer gas rates. Postponed until June 14.

The next city council meeting is scheduled for June 7 at 10 a.m., City Hall, 301 W. Second St.