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Sep 10, 2024 · Context

Council approves FY2024/25 budgets for TIRZ #1, #2 and #3, each 5-0

The council adopted Resolutions No. 09-10-24-4, -5 and -6, approving the 2024/2025 budgets of the Center City (#1), East Gateway (#2) and South Gateway (#3) zones, each 5-0. TIRZ #2's budget showed $666,709 in revenue and $542,675 in spending, including $100,000 for community projects, $224,000 in tax refunds and $150,000 in debt service. TIRZ #3's showed $32,784 in revenue and $37,300 in spending, including $32,000 in infrastructure reimbursement to the developer.^[1]^[2]

Cole Stanley Josh Craft Don Tipps Tom Scherlen Les Simpson Laura Storrs

What the sources say

✓ Verified
On September 10, 2024 the council adopted Resolution No. 09-10-24-5 (TIRZ #2) on a motion by Les Simpson seconded by Don Tipps and Resolution No. 09-10-24-6 (TIRZ #3) on a motion by Josh Craft seconded by Simpson, each 5-0 (Cole Stanley, Josh Craft, Don Tipps, Tom Scherlen, Les Simpson). The TIRZ #1 budget (Resolution No. 09-10-24-4) passed 5-0 the same night. Laura Storrs presented all three. ^[1]
✓ Verified
The TIRZ #2 2024/25 budget, approved by its board on July 18, 2024, projected $616,709 in participation revenue (Potter County $308,215, City $194,756, Amarillo College $109,425, Panhandle Groundwater District $4,313) plus $50,000 in interest, and $542,675 in spending, including $100,000 for community projects, $224,000 in tax refunds and $150,000 in debt service. The memo said 2024 certified taxable value was $110.5 million, with $24.4 million in new improvements. ^[2]
Revenue
$666,709
Expenditures
$542,675
Community projects
$100,000
Tax refunds
$224,000
Debt service
$150,000
⚠ Sources differ
The TIRZ #3 2024/25 budget's total spending is stated two ways in the packet.
Reported value 1[2]
Expenditures
$37,300
The budget table totals $37,300, including $32,000 in infrastructure reimbursement and a $4,000 audit fee, against $32,784 in revenue (Randall County $13,875, City $12,105, Amarillo College $6,804).
Reported value 2[2]
Expenditures
$37,200
The CFO's cover memo says "Total expenses of $37,200 include funding for an annual audit and reimbursement to the developer".
✓ Verified
A TIRZ #3 board meeting set for July 25, 2024 was canceled for lack of a quorum. On August 22, 2024 the board approved the FY2024-25 TIRZ #3 budget and an updated investment policy, each 8-0; the TIRZ #2 board had approved its FY2024-25 budget on July 18, 2024, 6-0. ^[3]^[4]

Related events

TIRZ #2 board amends its FY2023-24 budget for a $150,000 missed loan payment to the City Sep 19, 2024

Sources

1.Amarillo City Council Regular Meeting Minutes, 2024-09-10 — City of Amarillo, Sep 10, 2024 · retrieved Oct 14, 2026primarySubject-authoredConsent agenda (including 9.F, Ordinance No. 8149 second reading) approved 5-0 except 9.B. States: "Motion to accept Resolution No. 09-10-24-1 with option 3 by Tom Scherlen, second by Les Simpson; Motion passed with a 5:0 vote."
2.City Council Regular Meeting agenda packet, September 10, 2024 — City of Amarillo, Sep 10, 2024 · retrieved Oct 14, 2026primarySubject-authoredItem 10.C, Resolution No. 09-10-24-1 (packet pp. 153-157): memo on the county election administrators' ballot-length concerns; the draft resolution has a placeholder for the language.
3.South Gateway Tax Increment Reinvestment Zone No. 3 Board minutes, August 22, 2024 — City of Amarillo, Aug 22, 2024 · retrieved Oct 16, 2026primarySubject-authoredAttendance lists "John Attebury, Chairman" and, under Non-Voting Members, "Matt Griffith, Ex Officio"; the board approved the FY2024-25 budget 8-0.
4.East Gateway Tax Increment Reinvestment Zone No. 2 Board minutes, July 18, 2024 — East Gateway TIRZ #2 Board (via City of Amarillo CivicClerk), Sep 19, 2024 · retrieved Oct 22, 2026primarySubject-authored'published' is the date the board approved these minutes, as recorded in the September 19, 2024 minutes.