Dec 2022 · Context

City completes the purchase of the Grant Street property

A 2024 City agenda memo and ABC 7 both state that the City bought the property in December 2022 for $1.3 million. The September 6, 2022 purchase agreement had set closing for on or before September 30, 2022.^[1]^[2]^[3]

Downtown & development

What the sources say

✓ Verified
The City's June 2024 agenda memo and ABC 7 both state the City purchased the property in December 2022 for $1.3 million. The September 6, 2022 purchase agreement had set closing for on or before September 30, 2022, and allowed the parties to agree to extend it; no source found gives the exact closing date. ^[1]^[2]^[3]
Price
$1,300,000

Sources

1.City Council Agenda Packet 2024_06_11 Regular Meeting — City of Amarillo, Jun 11, 2024 · retrieved Oct 14, 2026primarySubject-authoredDate is the meeting date. Item 10.C transmittal memo (packet pp. 252-253): "The property was originally purchased in December 2022 for $1.3MM and the appraisal at the time was for $1.1MM" ... "The buyer is JM Conkling, LLC" ... "Funds received from this sale will be allocated to the general fund." Contract for Sale (pp. 254-258): escrow "$5,000.00"; closing "On or before July 14, 2024".
2.City of Amarillo could sell downtown property, barely break even — ABC 7 Amarillo (KVII), Jun 10, 2024 · retrieved Oct 14, 2026newsIndependentStates: "The plan at the time was for the Civic Center to use it for storage." Reports the April 2022 appraisal of $1.1M, Stanley's and Nelson's 2022 statements, and the proposed resale to JM Conkling, LLC for $1.3M.
3.Amarillo City Council Regular Meeting Agenda (with backup), 2022-09-13 — City of Amarillo, Sep 13, 2022 · retrieved Oct 14, 2026primarySubject-authoredDate is the meeting date. The PDF has no usable text layer; read with OCR. Item No. 3O transmittal memo (PDF p. 263): "Council Priority Economic Development/ Redevelopment" ... "CONSIDER PURCHASE: REAL ESTATE LOCATED AT 501 S. GRANT STREET, 509 S. GRANT STREET, AND 517 S. GRANT STREET" ... "Funding will come from excess Hotel Occupancy Tax Collections and Excess General Fund Cash". Attached Sale and Purchase Agreement dated September 6, 2022 (PDF pp. 265-270): purchase price "$1,300,000.00"; "No earnest money shall be required"; closing "on or before September 30, 2022".