Sep 13, 2022 · Origin

Council votes 4-1 to buy 501, 509 and 517 S. Grant Street for $1.3 million

The council authorized the City Manager to execute a contract to buy multiple buildings and land at 501, 509 and 517 S. Grant Street for $1,300,000 plus closing costs and related expenses. Mayor Ginger Nelson, Mayor Pro Tem Freda Powell and Councilmembers Eddy Sauer and Howard Smith voted yes; Councilmember Cole Stanley voted no. The agenda memo listed the council priority as Economic Development/Redevelopment and the funding as excess hotel occupancy tax collections and excess general fund cash. Assistant City Manager Andrew Freeman presented the item.^[1]^[2]^[3]

Ginger Nelson Freda Powell Eddy Sauer Howard Smith Cole Stanley Andrew Freeman

What the sources say

✓ Verified
On September 13, 2022 the council voted 4-1 to authorize the City Manager to execute a contract and other necessary documents to buy multiple buildings and land at 501, 509 and 517 S. Grant Street for $1,300,000.00 plus closing costs and related expenses. Nelson, Powell, Sauer and Smith voted yes; Stanley voted no. Powell made the motion and Sauer seconded it. ^[1]^[2]
Price
$1,300,000
✓ Verified
The attached Sale and Purchase Agreement, dated September 6, 2022, set the purchase price at $1,300,000.00, required no earnest money, gave the City an inspection and termination period through September 30, 2022, and set closing for on or before September 30, 2022. The seller was a trust that owned the property. The property is three groups of lots in Block 352 of the Mirror Addition, each with the adjoining 11 feet of vacated Grant Street right-of-way. ^[2]
Price
$1,300,000
✓ Verified
The agenda memo said funding for the purchase "will come from excess Hotel Occupancy Tax Collections and Excess General Fund Cash." It listed the council priority as "Economic Development/ Redevelopment" and the contact as Andrew Freeman, Assistant City Manager. ^[2]
✓ Verified
The September 2022 agenda memo did not state an intended use for the property. ABC 7 reported in June 2024 that "the plan at the time was for the Civic Center to use it for storage." No source found states whether the Civic Center or any other City department used the buildings. ^[2]^[3]
✓ Verified
The property was appraised at $1.1 million in April 2022, $200,000 below the $1.3 million purchase price. The City's 2024 memo dates the appraisal April 21, 2022; ABC 7 reported that Andrew Freeman, who recommended the purchase, said it had been appraised at $1.1M in April 2022. ^[4]^[3]
Appraisal
$1,100,000
Price
$1,300,000
Difference
$200,000
✓ Verified
Councilmember Cole Stanley: ABC 7 reported that Stanley, who voted no, said in 2022: "Why are you guys for this at such a premium? $1.3M is premium for that building." ^[3]
✓ Verified
Mayor Ginger Nelson: ABC 7 reported that Mayor Ginger Nelson disagreed that the City was overpaying, saying "We are paying the asking price" and "I think it is important for us to control land that is next to other land that the city is developing and has a use for." ^[3]
✓ Verified
Councilmember Cole Stanley: ABC 7 reported that the City was one of two interested buyers in 2022, and that Stanley said JM Conkling, LLC had wanted to offer the same amount as the City. ^[3]
✓ Verified
Three residents addressed the council on the item during public address; the minutes record one as speaking against it and do not record the position of the other two. ^[1]

Sources

1.Amarillo City Council Regular Meeting Minutes, 2022-09-13 — City of Amarillo, Sep 13, 2022 · retrieved Oct 14, 2026primarySubject-authoredScanned minutes (OCR). Item 2EE: "demolition of railroad tracks, ties, and paving ... to allow for utility updates for the remodel of the new City Hall. A motion was made to award the contract to Howell Sand in the amount of $116,003.00" ... "the motion passed by a 4-1 vote."
2.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".
3.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.
4.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".