· Resolution
Council approves amended and restated AEDC articles of incorporation, 4-1
The council voted 4-1 to approve amendments to the AEDC's articles of incorporation, with Les Simpson voting no. The amended and restated articles in the agenda packet describe the AEDC as acting "subject to the control of the City Council". They require every project to be approved by both the board and the council, require council approval to move money between budget line items, and give council members access to AEDC records within 10 business days. They also make directors removable by the council at will.[1][2][3]
Cole StanleyLes SimpsonTom ScherlenJosh CraftDon TippsAmarillo Economic Development Corporation (AEDC)
What the sources say
- ✓ Verified
Resolution No. 01-14-25-2, approving amendments to the AEDC's Articles of Incorporation, passed 4-1 on a motion by Tom Scherlen, seconded by Josh Craft. Cole Stanley, Josh Craft, Don Tipps and Tom Scherlen voted aye and Les Simpson voted no. The memo states that the AEDC board reviewed the draft articles on January 7, 2025, made a few edits and sent them to the council.[1][2]
- ✓ Verified
Under the draft Amended and Restated Articles in the packet, the AEDC has its powers 'subject to the control of the City Council'. 'All Projects ... must be individually considered and approved by the Board of Directors and the City Council', and no shortfall in one budget line may be shifted to another without a budget amendment approved by the board and the council. The budget must follow GASB standards in line-item form. AEDC information must be made available to any council member on request within 10 business days. Directors are 'removable by the City Council at will', and the bylaws may not be amended without council approval. The articles list the current directors as Alex Fairly, Dipak Patel, Howard Smith, Josh Craft and Don Tipps.[2]
- ✓ Verified
John Atkins (AEDC counsel); Mayor Cole Stanley; Councilmember Les Simpson: NewsChannel 10 reported that AEDC attorney John Atkins said the change in terminology from Articles of Incorporation to Certificate of Formation brings the document to a more modern state. Mayor Stanley called the change a first step toward fixing the City–AEDC relationship. Simpson said he was not opposed to the articles but believed they could be more transparent.[3]