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Council approves a Chapter 380 agreement with a 10-year tax rebate and $1,050,000 in ARPA funds, 5-0
The City Council voted 5-0 to approve a Chapter 380 agreement for the Commons at St. Anthony's project: a rebate of 100% of annual City property taxes for ten years, $1,050,000 in American Rescue Plan Act funds (75% paid during construction and 25% after a certificate of occupancy) and a refund of $88,098 in permit fees. Councilmember Freda Powell amended her motion to make the agreement contingent on Potter County approving its portion. The agenda named Commonwealth Development as the other party.[1][2]
Ginger NelsonFreda PowellEddy SauerHoward SmithCole StanleyAndrew FreemanThe Commonwealth Companies (Commonwealth Development)
What the sources say
- ✓ Verified
The council approved a Chapter 380 agreement for the Commons at St. Anthony's project "with 100% of annual property taxes rebated for ten years; $1,050,000 in American Rescue Plan Act funds with 75% paid during construction and 25% paid after a certificate of occupancy is received; and a refund on paid permitting fees related to the project in the amount of $88,098." [1]
- Arpa
- $1,050,000
- Permit fee refund
- $88,098
- Tax rebate
- 100%
- ✓ Verified
Assistant City Manager Andrew Freeman and Councilmember Freda Powell presented the item. Powell moved to approve, seconded by Councilmember Eddy Sauer, then amended her motion to make the agreement "contingent upon Potter County passing their portion of the proposal." It passed 5-0, with Mayor Ginger Nelson and Councilmembers Powell, Sauer, Howard Smith and Cole Stanley voting aye. [1]
- ✓ Verified
The agenda listed the item as a Chapter 380 agreement "between the City of Amarillo and Commonwealth Development" for an affordable 124-unit senior independent living apartment building on the east end of the St. Anthony's Hospital building. The staff memo said construction would exceed $30 million and placed the item on the agenda for the council "to give direction and take possible action on the various requests." [2]
