Raleigh Austin presented Oct. 1 to the Historic Landmark Commission on its proposed role and funding priorities for the 2026 bond process, urging council and advisory bodies to consider a large, programmatic investment to preserve cultural spaces and legacy businesses.

David Colligan, representing Raleigh Austin, described the agency as a multipurpose local government corporation created by City Council in 2020 to broker public–private partnerships that preserve arts, music, culture and “legacy” small businesses. Colligan proposed three program areas for bond support: expansion of the Austin Cultural Trust, a commercial or “legacy‑business” trust to acquire and preserve locations for long‑standing small businesses, and workforce‑development/affordable housing tied to creative users.

Raleigh Austin’s preliminary financing ask totals $260 million, with $135 million proposed for cultural trust expansion, $45 million for a commercial acquisition program, $46.5 million for acquisitions and $14.5 million for capital/construction gap financing; the agency estimated the package could leverage roughly $859 million in projects. Colligan framed the request as programmatic seed funding—acquisition, capital improvements and loan/grant reserve—rather than funding for specific individual projects.

Commissioners asked clarifying questions about ownership of properties secured by Raleigh Austin (Colligan said properties would likely be owned by Raleigh Austin as an agent of the city and that specific agreements would be structured on a project‑by‑project basis). Commissioners also discussed how historic and preservation priorities might interface with Raleigh Austin’s acquisition strategy; Colligan said he would return with additional details and an advisory committee proposal, and staff noted the briefing was informational only and not posted for action.

Several commissioners said they would welcome future briefings and suggested the commission could consider drafting a resolution or formal feedback to city council or the bond advisory task force as details firm up. Colligan said Raleigh Austin would pursue further outreach to commissions, community groups and the bond advisory task force ahead of the 2026 bond decision process.