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Jan 29, 2024 · Related development

AEDC board approves a 20% "contractual performance adjustment" for Carter

Chairman Hall reviewed Carter's performance with the board; Carter reviewed his 2023 goals and accomplishments and presented 2024 goals. Director Burton moved a 20% contractual performance adjustment; Director Bentley seconded and it was approved unanimously. The minutes note in parentheses that Carter had received a 4% cost-of-living adjustment budgeted and approved for FY2023-2024.^[1]

Kevin Carter Dipak Patel Amarillo Economic Development Corporation (AEDC)

What the sources say

✓ Verified
The January 29, 2024 minutes: 'Director Burton made a motion to approve a 20% contractual performance adjustment. Director Bentley seconded the motion. The motion was approved unanimously. (President Carter did receive a 4% COLA that was budgeted and approved for FY 2023-2024)'.^[1]
Award
20%
Cola
4%
✓ Verified
None of the five sets of minutes states Carter's base salary, the dollar value of a 20% award, or whether the 2024 'contractual performance adjustment' was a one-time payment or a raise. The executive sessions held before the 2020, 2023 and 2024 votes are recorded only as 'No action was taken during the executive session because none is permitted by law.'^[2]^[3]^[1]

Sources

1.Amarillo Economic Development Corporation Board of Directors minutes, January 29, 2024 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Feb 26, 2024 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.
2.Amarillo Economic Development Corporation Board of Directors minutes, March 23, 2020 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Apr 20, 2020 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.
3.Amarillo Economic Development Corporation Board of Directors minutes, January 23, 2023 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Feb 27, 2023 · retrieved Oct 22, 2026primarySubject-authoredScanned minutes (OCR); figures checked against the page images. 'published' is the date the board approved these minutes, as recorded in the minutes of that later meeting.