BG Reads 10.4.2024

🗞️ Bingham Group Reads - October 4, 2024

October 04, 2024

Bingham Group Reads

Presented by:

www.binghamgp.com

October 4, 2024

Today's BG Reads include:

🟪 Monday is the deadline to register to vote in the Nov. 5 election. Here's what you need to know. (KUT)

🟪 Realtors join Broadnax in push to revamp city processes in favor of density (Austin Monitor)

🟪 International buyers pump $618 million into Central Texas housing market (Austin American-Statesman)

🟪Texas gets $5.7 billion in federal funding for infrastructure projects (Texas Public Radio)

🟪 Ports' strike ends, as dockworkers reach agreement on wages (NPR)

Read On!

[BINGHAM GROUP]

⚽️ Last Thursday the 4ATX Foundation, Austin FC’s nonprofit arm, held it’s 4th Annual Night in Verde. This year's gala raised over $1,058,000 in support of our mission, closing the opportunity gap and creating Austin's next generation of leaders. That includes Austin ISD’s Bedichek Middle School, which I attended. It’s been a joy to serve as the 4ATX Board Chair this year!

🟪 Bingham Group represents and has represented a wide range of clients in the Austin Metro and Texas Capitol at the intersection of government and business.

🟪 Learn more about Bingham Group’s experience here, and review client testimonials here.

[CITY OF AUSTIN]

🟪 The Austin Council has five (5) regular meetings left in 2024

  • District 6 - October 7th

    • Hope Presbyterian Church, 11512 Olson Drive, Austin 78750

📺 City Council Candidate Forum: District 2 - Video (9.26.2024)

📺 City Council Candidate Forum: District 4 - Video (9.19.2024)

📺 City Council Candidate Forum: Mayor - Video not posted yet (10.3.2024)

✅ All candidate forums will are scheduled from 6:30pm to 8pm.

✅ All forums will be streamed live and archived on ATXN. 

[AUSTIN METRO NEWS]

Monday is the deadline to register to vote in the Nov. 5 election. Here's what you need to know. (KUT)

Monday is the deadline to register to vote in Texas in the Nov. 5 election. Citizens across the country will get to vote for president, and Texans will get to vote in a U.S. Senate race.

At the local level, Austinites will vote for mayor, and some residents will choose City Council members. Depending on what county you live in county, you will also get to weigh in on local tax changes and school bonds. Find sample ballots on your county’s election website. Here are some examples:

Realtors join Broadnax in push to revamp city processes in favor of density (Austin Monitor)

Real estate leaders and the city’s top executive see potential in the city’s recent slates of code changes for land use and building, but agreed that implementing those changes effectively will be what determines their success in addressing Austin’s rising cost of living.

Earlier this week, the Austin Board of Realtors hosted its annual Central Texas Housing Summit, which looked at trends and issues in the local real estate market, including detailed data on the shifting demand from international buyers looking to invest in Central Texas.

In an interview session, City Manager T.C. Broadnax said the HOME and HOME2 initiatives to increase housing density throughout the city will be effective only if the city’s assorted departments connected to development can change their processes accordingly… 🟪 (LINK TO FULL STORY)

International buyers pump $618 million into Central Texas housing market (Austin American-Statesman)

Despite the ongoing cooling trend in the Austin-area housing market, Central Texas continues to be a sought-after destination for international homebuyers, sellers and investors.

That's according to an annual survey the Austin Board of Realtors released Wednesday.

International buyers bought and sold $618 million in residential real estate in the 12 months that ended in March, the board said in its Central Texas International Homebuyers Report.

Mexico surpassed India as the top country of origin for foreign buyers purchasing houses in the Austin area, a five-county region extending from Georgetown to San Marcos.

The $618 million in sales dollar volume from foreign buyers made up 3% of all residential dollar volume.

Closings by international buyers increased 2% year-over-year, to 1,020 sales. Half of those homes sold for more than $577,778 and half sold for less, for a 0.8% increase in the median price from April 2023 through March.

“Over the past decade, one in six new Austin-area residents relocated from abroad,” Kent Redding, president of the Austin Board of Realtors, said in a news release. “With our resilient economy, business-friendly environment and high quality of life, the Central Texas region continues to be a top choice for international homebuyers and investors.

This year, Mexico (20%) was the top country of origin for international homebuyers in Central Texas, with India (17%), Canada (7%), China (5%) and Brazil (5%) rounding out the top five… 🟪 (LINK TO FULL STORY)

[TEXAS NEWS]

Texas gets $5.7 billion in federal funding for infrastructure projects (Texas Public Radio)

Texas is getting more than $5.6 billion from the Department of Transportation for infrastructure projects across the state.

The Biden-Harris administration announced the funding on Tuesday as part of the 2021 Bipartisan Infrastructure Law. It's the fourth year of funding under the law, which funds improvements for highways, bridges and air quality improvement programs.

A spokesperson for the Texas Department of Transportation told KERA the money hasn’t been allocated to specific projects yet, but the largest share, about $3 billion, will go to the National Highway Performance Programs… 🟪 (LINK TO FULL STORY)

Colin Allred narrows gap in Texas Senate race, but can he win? (Texas Tribune)

Democrats are closing the gap in their uphill campaign to unseat U.S. Sen. Ted Cruz, with polls showing improvement for Democratic U.S. Rep. Colin Allred and national Democrats’ spending in the race a month ahead of Election Day.

For the first time this race, Allred pulled ahead of Cruz in a statewide poll last month, and he continues to poll within a margin of error with Cruz. National Democrats announced Texas would be included in a multi-million-dollar ad buy last week. Allred is consistently outraising Cruz, bringing in more than $1 million in a day twice in the third quarter.

Allred has also built a bipartisan coalition, securing the support of both his party’s left-wing bigwigs and prominent Republicans who have soured on Cruz. This week, U.S. Sen. Bernie Sanders and U.S. Rep. Alexandria Ocasio-Cortez both encouraged voters in Texas to turnout for Allred. Former U.S. Reps. Liz Cheney and Adam Kinzinger, who both were on the House committee investigating the Jan. 6 Capitol attack, have endorsed Allred… 🟪 (LINK TO FULL STORY)

[US and World News]

Ports' strike ends, as dockworkers reach agreement on wages (NPR)

The strike by tens of thousands of dockworkers on the East and Gulf coasts has been called off, after the International Longshoremen's Association and the United States Maritime Alliance, representing ocean carriers and port operators, reached a tentative agreement on wages.

The two sides have agreed to a 62% wage increase over six years, according to sources who were familiar with the deal, but not authorized to speak publicly about it. The union had been seeking a 77% increase over six years. A day before the strike began, the companies had offered nearly 50% in raises.

The parties have also agreed to extend the existing contract until Jan. 15, 2025. They will return between now and then to the bargaining table to negotiate all other outstanding issues, including the union's demand of a ban on all automation at the ports... 🟪 (LINK TO FULL STORY)

How Eric Adams plans to remain in power (Wall Street Journal)

New York Gov. Kathy Hochul last week delivered a private message to Eric Adams, the first mayor of New York City to face a federal criminal indictment: Clean house and keep the city running.

The two Democrats are close, but it was more than friendly advice. Hochul has the constitutional power to remove Adams from office as he fends off bribery and fraud charges as well as calls to step down.

In the days after his call with Hochul, the mayor shook up his staff and said he is “communicating with her to let her know some of the things we’re doing” to make sure governance of the city continues uninterrupted by the federal case.

So far, it is working for him. He has kept the governor on his side and weathered the first week under indictment bruised, but unbowed.

Adams’s efforts to appease the governor are part of a larger campaign to stay in power despite calls from some in his party that he resign. Adams has rallied with Black civil-rights and religious leaders to show the public—and the governor—he has a base of support despite the indictment.

A reservoir of goodwill with the city’s business community, including some executives who are wary of a more progressive mayor, has buttressed his position… 🟪 (LINK TO FULL STORY)

_________________________

We are proud to represent and have represented a wide range of clients in the Austin Metro and Texas Capitol at the intersection of government and business.

Learn more about Bingham Group’s experience here, and review client testimonials here.

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