“This deal is not done. It remains in peril. And Apple is frustrated… We were disappointed (the deal) wasn’t finalized this past Tuesday, but we were hopeful this next Tuesday that Apple and the county can complete the negotiation process and have that behind us… We remain hopeful that will take place and there will be a positive vote on Tuesday.”
In total, Apple would receive roughly $36 million over 10 to 15 years as part of the deal. Approximately $6.4 million is supposed to come from Travis County. The report explained the reasons behind the County delaying approval of the incentive:
The county’s decision to take another look at the incentives offer to Apple came after opponents of the deal raised questions at Tuesday’s Commissioners Court meeting… Bill Aleshire, an attorney and former Travis County judge, and Ed Wendler, an Austin-area developer, picked through the county’s draft final contract with Apple, pointing to parts of the contract they said will allow Apple to fall short of the requirements by the Commissioners Court.
Earlier reports covering the negotiations indicated Apple also considered building the new campus in Phoenix, and it is still a possibility that the deal in Austin could fall through. Apple is set to continue negotiations with the County this Tuesday.
- Austin cements itself as Apple’s ‘second city’ with approval of $8.6M incentive (9to5mac.com)
- Apple waiting on city incentives for $304M Austin campus expansion, considering Phoenix instead (9to5mac.com)