AUSTIN (Austin Business Journal) — Austin City Hall is in the process of drafting a controversial code amendment that would require commercial property developers and businesses to pay new fees to support a bigger and better parks system.

Austin City Council directed city staff to make such a move, but in an effort to formulate a better plan and gather additional community input, the city’s Planning Commission voted July 12 to put the brakes on the code revision that’s planned to be in the city’s budget for the 2023 fiscal year.

The proposal comes at a time when commercial property owners and developers are worried about rapidly rising real estate costs, similar to what’s been experienced in the residential market. It also comes on the heels of a report that found Austin’s real estate development fees far outpace those of other big Texas cities.

Read the full story in the Austin Business Journal.