· Resolution
Council authorizes $4.5 million in hotel tax revenue bonds for MLB-required upgrades
The council voted unanimously to authorize $4.5 million in hotel occupancy tax and revenue bonds for Hodgetown upgrades required under MLB facility standards, including locker rooms and facilities for women, a dining area and extended netting. Repayment sources include the team lease, the Convention and Visitors Bureau and hotel tax collections through 2043.[1][2][3][4]
What the sources say
- ⚠ Sources differ
The amount tied to the 2023 Hodgetown upgrades was reported differently.
- Amount
- $4,000,000
Estimated renovation cost (Laura Storrs; state project registration)
Reported value 3[5]
- Amount
- $4,757,000
Hotel occupancy tax bonds approved in March 2023, as later reported by the Amarillo Pioneer
- ✓ Verified
Laura Storrs, Assistant City Manager/CFO (HOT share estimate): Repayment sources were described as $175,000 per year from the team lease (drawn from the team's capital reserve), $50,000 per year from the Convention and Visitors Bureau budget, and about $155,000-$157,000 per year from hotel tax collections, through 2043 when the bonds mature.[2]
- Team lease
- 175,000
- Cvb
- 50,000
- Hot low
- 155,000
- Hot high
- 157,000
- Maturity year
- 2,043
- ✓ Verified
Laura Storrs, Assistant City Manager and CFO: Assistant City Manager and CFO Laura Storrs said 'you must meet the requirements of major league baseball' and that 'no property tax dollars are being used to pay for that facility.'[1]
- ✓ Verified
A state accessibility registration for the Hodgetown renovation and expansion, owned by the City of Amarillo, listed an estimated cost of $4,000,000, a start date of October 1, 2023 and a completion date of March 1, 2025.[3]
- ✓ Verified
The March 28, 2023 minutes record the council voting 5-0 to adopt Ordinance No. 8053, authorizing the issuance of "City of Amarillo, Texas, Hotel Occupancy Tax Revenue Bonds, Taxable Series 2023," on a motion by Mayor Pro Tem Powell seconded by Councilmember Smith; voting yes were Mayor Nelson, Mayor Pro Tem Powell and Councilmembers Sauer, Smith and Stanley. The minutes do not state the bond amount. [4]