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ChatGPTClaudePerplexity· Related development
AEDC board approves $10 million toward Northeast Interceptor debt service, 5-0
After an executive session, Director Brown moved to approve the City's request for AEDC cost participation in the Northeast Interceptor project "in the amount of $10,000,000 to be paid out in a term not to exceed 30 years and not more than 50% of the City's debt service payment as it relates to the bond indebtedness." Vice-Chair Meander seconded and it was approved unanimously.[1]
Kevin CarterAmarillo Economic Development Corporation (AEDC)
What the sources say
- ⚠ Sources differ
The AEDC's commitment to the interceptor is stated differently in its board minutes and its own project report.
Reported value 1[1]
- Commitment
- $10,000,000
AEDC board, December 18, 2023: $10,000,000, paid over no more than 30 years and not more than 50% of the City's debt service payment.
Reported value 2[2]
- Original project
- $17,440,050
- Paid prior years
- $319,952
- Paid ytd
- $163,500
AEDC cumulative project status report through January 31, 2025: 'North East Interceptor Participation' with an original project amount of $17,440,050, $319,952 paid in prior years, $163,500 paid year to date and $16,518,596 in future commitments. The report does not explain the difference from the $10,000,000 in the board motion.
