Rural farmland just east of Austin's city limits may turn into a 1,100-acre, two-mile long, mixed use project called Villa Muse -- anchored by a studio.

“Instead of anchoring it with a golf course or medical center, like as traditionally the case, we're anchoring it by a state of the art studio complex for film, television, commercial, music, video games and animation,” said Paul Alvarado-Dykstra, Villa Muse vice president.

While this creative center has been a dream 10 years in the making, developers say it's critical to start building by summer.

“We're really right now at a cross roads for the creative industry in Texas and particular for film and television -- we're seeing an erosion of our talent pool,” says Alvarado-Dykstra.

But Villa Muse won't be built unless the City of Austin makes a special concession; not cash -- instead -- a guarantee it would be exempt from city taxes for many years.

“We can't put our taxpayers and our tax base at risk and I think there are some risks that we need to talk through,” said City Council Member Mike Martinez.

Martinez wants assurances about the number of jobs, and salary ranges for those jobs. And he still has a lot of unanswered questions.

“I'd like to see some securities in terms of the financial debt that's going be incurred upon this. If they aren't able to pay it back, whose responsibility does it become?“ asked Martinez.

Those are issues that both the city and developers will have to work out before ground can be broken.