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AEDC board to consider repurchasing about 257.60 acres from International Paper for $6,440,100
Pending Scheduled; has not yet occurred.
The AEDC board's October 22, 2026 agenda lists action on a repurchase agreement with International Paper Company for approximately 257.60 acres near Pullman Road and Airport Boulevard. The draft agreement in the board package states that the 2023 contract gave the AEDC an option to repurchase the property if development had not begun by November 17, 2028, and that International Paper "has determined it will not develop the Property by such deadline." The draft repurchase price is $6,440,100, with closing within 45 days of the effective date. The agreement states it will be presented to the AEDC board and the City Council for consideration.[1][2]
Andreas EcksteinAmarillo Economic Development Corporation (AEDC)International Paper Company
What the sources say
- ✓ Verified
The draft Repurchase and Sale Agreement in the AEDC's October 22, 2026 board package sets a repurchase price of $6,440,100 for approximately 257.60 acres in Potter County, with $100 of independent consideration due at signing, closing within 45 days after the effective date, and the seller paying title policy, recording, escrow and transfer costs. The accompanying Repurchase Agreement states the original agreement was dated September 27, 2023, closed November 17, 2023, and let the AEDC repurchase the land if development had not commenced by November 17, 2028. The effective date is left blank. [1]
- Repurchase price
- $6,440,100
- Pending
The draft agreement says only that International Paper "has determined it will not develop the Property by such deadline"; no fetched source states why, or what the AEDC plans for the land. As of October 17, 2026 the City Council's October 27 agenda had not been posted. [1]
- ✓ Verified
The October 22, 2026 AEDC agenda lists item 5, action on the repurchase agreement with International Paper Company for approximately 257.60 acres near Pullman Road and Airport Blvd.; an executive session on economic-development negotiations for seven numbered projects and on real property in the Northeast quadrant; and item 6, designation of an authorized signer for board-authorized contracts and deeds (a draft resolution naming President and CEO Andreas Eckstein). [2][1]
