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Sep 19, 2023 · Context

City Council approves AEDC sale of about 254 acres at Pullman Road and Airport Blvd. to International Paper (5-0)

At a September 19, 2023 special meeting the City Council voted 5-0 to authorize the Amarillo Economic Development Corporation to sell approximately 254 acres at Pullman Road and Airport Boulevard to International Paper for approximately $6,350,000 plus closing costs. KFDA reported that the AEDC board approved the sale the same day and that International Paper said it was "not ready to share how this site may fit into its plans." The AEDC's 2026 repurchase documents state the purchase and sale agreement was dated September 27, 2023 and closed on November 17, 2023. The AEDC's account register records a $6,439,621.00 "Record Sale of Property" deposit on November 28, 2023.^[1]^[2]^[3]^[4]

Kevin Carter Cole Stanley Tom Scherlen Josh Craft Les Simpson Don Tipps Amarillo Economic Development Corporation (AEDC)International Paper Company

What the sources say

⚠ Sources differ
Sources give the International Paper sale's amount and closing date differently.
Reported value 1[1]
Sale price
$6,350,000
About $6,350,000 plus closing costs, as authorized by the City Council on September 19, 2023.
Reported value 2[3]
Closing date
2023-11-17
Closed November 17, 2023, according to the AEDC's 2026 repurchase documents.
Reported value 3[4]
Amount recorded
$6,439,621
Recorded date
2023-11-28
A $6,439,621.00 "Record Sale of Property" deposit on November 28, 2023 in the AEDC's account register, which does not name the buyer. The register amount may include closing adjustments; none of the documents says so.
✓ Verified
The September 19, 2023 special-meeting minutes record an item authorizing the AEDC to sell approximately 254 acres at Pullman Road and Airport Boulevard to International Paper for approximately $6,350,000 plus closing costs and related expenses, presented by Kevin Carter of the AEDC, approved 5-0 on a motion by Councilmember Tom Scherlen seconded by Councilmember Josh Craft (Craft, Scherlen, Stanley, Simpson and Tipps for). ^[1]
⚠ Sources differ
The size and price of the 2023 International Paper sale are stated differently by source.
Reported value 1[2]
Acres
250
Amount
$6,300,000
KFDA: about 250 acres, $6.3 million.
Reported value 2[1]
Acres
254
Amount
$6,350,000
Council minutes: approximately 254 acres, approximately $6,350,000 plus closing costs.
Reported value 3[3]
Acres
257.6
2026 AEDC repurchase draft: approximately 257.60 acres (the same property, per the draft).
✓ Verified
The AEDC's fiscal 2024 account register lists a deposit of $6,439,621.00 on November 28, 2023 described as "Record Sale of Property", the only property-sale receipt of that size in the register. The row does not name the buyer. The AEDC's 2026 repurchase documents state the International Paper sale closed November 17, 2023; the draft repurchase price is $6,440,100. ^[4]^[3]
Sale receipt
$6,439,621
✓ Verified
On November 13, 2023 President Carter told the board that International Paper 'would be closing during the week of November 13th -17th.'^[5]

Sources

1.Amarillo City Council Special Meeting Minutes, 2023-09-19 — City of Amarillo, Sep 19, 2023 · retrieved Oct 14, 2026primarySubject-authoredScanned minutes read with OCR. States: "A motion was made by Councilmember Simpson to the budget attached to Resolution No. 09-19-23-1 as follows: to replace the $200,000 and fully restore the Enterprize Challenge. The motion died for lack of a second." Resolution No. 09-19-23-1 (AEDC budget) passed 4:1 (Simpson no); Resolution No. 09-19-23-2 (TIRZ No. 1 budget) passed 4:1 (Scherlen no).
2.Amarillo Economic Development Corporation approves $6.3 million land sale — NewsChannel 10 (KFDA), Sep 19, 2023 · retrieved Oct 17, 2026newsIndependentByline Kevin Welch and Kristin Rodin; page timestamp September 19, 2023 6:14 PM CDT.
3.AEDC Board Package, October 22, 2026 — Amarillo Economic Development Corporation, Oct 16, 2026 · retrieved Oct 17, 2026primarySubject-authored43-page PDF created October 16, 2026. Contains the agenda, draft minutes of the September 17, 2026 board meeting (agenda item 3 refers to them as the "September 22, 2026" meeting), the draft International Paper Repurchase Agreement and Repurchase and Sale Agreement (item 5), Resolution 2026-1 (item 6) and the managerial report for the eleven months ended August 31, 2026.
4.Amarillo Economic Development Corporation account register, October 1, 2023 - September 30, 2024 — City of Amarillo, Feb 9, 2026 · retrieved Oct 18, 2026primarySubject-authoredScanned G/L by Business Unit report (City report R09420) listed on the City's Financial Transparency page under 'Component Unit Account Registers'. Columns: explanation, document type and number, G/L date, debit, credit. Figures cited on this site were read from the page images. Covers the AEDC Operating (9110.10530) and AEDC Projects Fund (9120.10540) bank accounts; report run February 9, 2026.
5.Amarillo Economic Development Corporation Board of Directors minutes, November 13, 2023 — Amarillo Economic Development Corporation (via City of Amarillo CivicClerk), Dec 18, 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.