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Aug 17, 2022 · Related development

LGC board recommends raising garage parking to $11 a day and $4 an hour, 5-0

Assistant City Manager Laura Storrs presented the LGC's loan agreements with TIRZ #1 and the City and said unpaid interest would be rolled into principal and that if the retail space were sold the full amount of each loan would be due immediately. The board then voted 5-0 to recommend raising the downtown parking garage rate to $11 a day and $4 an hour, and approved its 2022-23 budget 5-0. In May 2022 Storrs had modeled stepped rate increases to raise the garage's funding for debt service to $425,000 a year by fiscal 2026/27.^[1]^[2]

Laura Storrs Cole Stanley Howard Smith Amarillo Local Government Corporation (LGC)

What the sources say

✓ Verified
On August 17, 2022 Gary Jennings moved to raise the parking garage rate to $11 per day and $4 per hour, Jennifer Gallardo seconded, and the motion carried 5-0; Councilmember Howard Smith had left before the vote. The item was a recommendation to the City Council. In July 2022 Jennings had suggested rates comparable to the airport garage's $12 a day. ^[1]^[3]
✓ Verified
Storrs told the LGC board in August 2022 that unpaid interest on the TIRZ #1 and City loans would be rolled into principal and that if the retail space were sold the full amount of each loan would be due immediately. In July 2022 Councilmember Cole Stanley had asked for the details of the City loans and suggested modifying their terms so the LGC could avoid operating at a loss; Storrs said both parties would have to renegotiate. ^[1]^[3]
✓ Verified
In May 2022 Storrs presented a cash-flow model stepping up hourly and daily garage rates in 2022/23, 2024/25 and 2026/27 to bring funding for debt service to $425,000 in fiscal 2026/27 (a projection). Jerry Danforth said the garage had 760 spaces, 150 of them reserved for the Embassy Suites, and that the hotel charged $25 a day for valet parking in the garage. ^[2]
⚠ Sources differ
Sources give different space counts for the downtown parking garage.
Reported value 1[4]
Spaces
750
The City's FY2025 annual report describes the LGC's completed garage as 750 spaces.
Reported value 2[2]
Spaces
760
Jerry Danforth told the LGC board in May 2022 "we currently have 760 slots."

Sources

1.Amarillo Local Government Corporation Board of Directors minutes, August 17, 2022 — Amarillo Local Government Corporation Board of Directors (via City of Amarillo CivicClerk), Dec 1, 2022 · retrieved Oct 22, 2026primarySubject-authoredPublished date is the PDF creation date; the October 19, 2022 minutes list the approval of "the regular meeting held on July 20, 2022" instead. Scanned minutes (OCR).
2.Amarillo Local Government Corporation Board of Directors minutes, May 25, 2022 — Amarillo Local Government Corporation Board of Directors (via City of Amarillo CivicClerk), Jul 20, 2022 · retrieved Oct 22, 2026primarySubject-authoredApproved, with a corrected attendance entry, at the July 20, 2022 meeting. Scanned minutes (OCR).
3.Amarillo Local Government Corporation Board of Directors minutes, July 20, 2022 — Amarillo Local Government Corporation Board of Directors (via City of Amarillo CivicClerk), Aug 17, 2022 · retrieved Oct 22, 2026primarySubject-authoredApproved at the August 17, 2022 meeting. Scanned minutes (OCR).
4.City of Amarillo Annual Comprehensive Financial Report, fiscal year ended September 30, 2025 — City of Amarillo, Jun 4, 2026 · retrieved Oct 9, 2026primarySubject-authoredNote 13 (long-term obligations) describes each certificate-of-obligation series; Note 29 (subsequent events) records the Series 2026 and 2026A certificates, the Series 2026 PPFCOs and 2026 water-sewer revenue bonds. Issue dates differ in places between Note 13 and the statistical tables.