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ChatGPTClaudePerplexity· Related development
Council approves AEDC agreement to pay half the debt service on the interceptor bonds
On January 9, 2024 the council approved, 5-0, a cost-sharing agreement under which the Amarillo Economic Development Corporation would pay 50% of the debt service approved by council on December 12, 2023, for a term of no more than 30 years. The memo said the City was "seeking help with the cost overage" and that the project adds wastewater capacity to AEDC-owned properties. The AEDC board had approved it 5-0 on December 18, 2023.[1][2]
Cole StanleyJosh CraftDon TippsTom ScherlenLes SimpsonAndrew FreemanLaura StorrsAmarillo Economic Development Corporation (AEDC)
What the sources say
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On January 9, 2024 the council voted 5-0 (Stanley, Craft, Tipps, Scherlen, Simpson; motion by Josh Craft, second by Les Simpson) to approve a cost-sharing agreement with the Amarillo Economic Development Corporation for AEDC's participation in the Northeast Interceptor Project. Laura Storrs presented the item. [1]
- ✓ Verified
The memo said "The City of Amarillo is seeking help with the cost overage of the Northeast Interceptor Project," that the project adds wastewater capacity to AEDC-owned properties, and listed "$10 MM in estimated infrastructure improvements," AEDC paying "50% of debt service that was approved by Council on December 12, 2023," and a term no longer than 30 years. The AEDC board approved the agreement 5-0 on December 18, 2023. [2][3]
- Aedc share
- 50%
