Amarillo-Potter Events Venue District: hotel and car-rental taxes for the fairgrounds and Civic Center (2020-2025)

Laura Storrs, Assistant City Manager: The December 7, 2020 minutes record Assistant City Manager Laura Storrs explaining that "in 1998 the voters approved funding sources to pay for debt issuances associated with two projects, the Amarillo National Center (ANC) and the north end of the Civic Center," and that the hotel occupancy tax and vehicle rental tax "can only support the payment of the maintenance and operations and the debt associated with these two projects." ^[1]

Bob Dransfield, bond counsel (Norton Rose Fulbright): At the May 20, 2021 special meeting the district's bond counsel, Bob Dransfield, said the district's lease with the City was established in 1998 and first amended in 2016 to extend it to 2045. ^[2]

No 1998 election canvass or ballot language was fetched for this storyline; the 1998 approval and its limits are recorded here only as City staff and bond counsel described them in the minutes. ^[1][2]

On March 17, 2020 the board voted 4-0 to authorize the City to pursue Event Trust Fund analyses by Highland Market Research LLC for the Cowboy Mounted Shooting Association (CMSA) and the West Texas Cutting Horse Association, "with the stipulation the board will review the preliminary findings to determine the event will be profitable before pursuing a full analysis." Deputy City Manager Michelle Bonner said the board, the City and the Chamber of Commerce had used the state fund before and that "a refund of state sales tax dollars of approximately $100,000 was received." ^[3]

On June 15, 2020 Storrs said Highland Market Research did not expect the West Texas Cutting Horse Association event to qualify, and the board voted 6-0 to forgo that application; it voted 6-0 to pursue an application for the United States Team Penning Association (USTPA) finals, with a $7,500 economic impact analysis. ^[4]

Storrs reported that $106,089 was requested through the Event Trust Fund for the 2020 CMSA event and $72,186 for the 2020 USTPA finals (December 7, 2020), and that for 2022 the fund approved $35,770 for the CMSA and $45,107 for the USTPA, with local shares of $4,934 and $6,222 submitted (March 20, 2023). Each application carried a $7,500 fee to consultant Angie Highland. ^[1][5]

The board later approved Event Trust Fund participation for the CMSA and USTPA 2024 events (March 4, 2024), the American Quarter Horse Association's June 2025 Versatility Ranch Horse Championship Show (August 19, 2024, 6-0) and the CMSA 2025 event and the American Rope Horse Futurity Championship, a new event formerly held in the Fort Worth area (March 24, 2025, 7-0 each). In August 2024 Storrs said the $7,500 fee and the local share of sales tax would be reimbursed to the board after the event. ^[6][7][8]

The City's check register records four payments to Highland Market Research LLC totaling $28,500 between 2022-12-01 and 2024-11-18. The register does not tie payments to specific events or say which fund paid them. ^[9]

President Terry Wright "expressed the need to expand the footprint of the Venue District within the Tri-State Fairground boundary" and said that would require voter approval "since the original project was voted on in 1998." Storrs said the election would ask voters to expand the footprint and the use of the two funding sources, and that the deadline to call a May 2021 election was mid February. Tod Mayfield's motion, pending the final legal opinion, to place an expansion of the fairgrounds and Civic Center footprints on the appropriate ballot passed 7-0. ^[10]

The 2020/21 budget, approved 7-0, projected an October 1 beginning available balance of $5,259,297, anticipated revenues of $2,636,761 and expenses of $2,419,949, for a September 30, 2021 projected reserve of $5,476,109. Tri-State Participation projects totaled $239,130. The budget minutes do not mention a Civic Center improvement account. ^[10]

Storrs said the district "has treated payments for improvements as a lease payment to Tri-State." Lease Addendum No. 7 recorded $300,937 of 2019/20 projects; later addenda recorded $239,130 (No. 8, August 2021), $616,037 (No. 9, August 2022), $998,500 (No. 10, August 2023), $627,025 (No. 11, August 2024) and $1,039,950 (No. 12, August 2025). ^{[10][11][12][13][7][14]}

Storrs said bond counsel "feels it is reasonable that more of the related infrastructure does support the ANC and the north end of the Civic Center (the Exhibit Hall)." A resolution redefining where district dollars could be allocated "would need Venue District Board approval, as well as City Council and Potter County Commissioners approval." Wright said "nothing will change from a revenue standpoint. The only change would be in how the revenues could be allocated." ^[1]

The minutes reviewed do not say why the board moved from the August 2020 election plan to a resolution, and no later venue district minutes reviewed mention the election again. ^[10][1][15]

On February 22, 2021 Mayfield's motion, seconded by Alberto Rios, "to approve the resolution adding related infrastructure to the Venue District projects with attachments as presented" carried. The minutes list Bickerstaff, Mayfield, Reed, Williams and Wright as voting aye and state the result as a 6:0 vote, as printed. ^[15]

Laura Storrs, Assistant City Manager: Asked by board member Alberto Rios whether the board would be taking over repair and maintenance costs from another entity, Storrs said no: the district "would have the opportunity to support projects, within the new areas," to be discussed during the budget process, and the board "has the full authority to approve these repair and maintenance requests which are subject to incoming revenues sources." ^[15]

The venue district minutes reviewed do not record the City Council or Potter County Commissioners Court votes on the matching resolutions; those votes were not found for this storyline. ^[15]

Specialized Public Finance first presented a refunding opportunity on January 21, 2020, estimating net present value savings of $295,482 (6.5% of the refunded bonds); on March 29, 2021 it estimated $311,707 (7.584%). On May 10, 2021 the board approved a resolution setting a TEFRA hearing for May 19 and appointing a hearing officer, with a May 20 sale date. ^[18][17][16]

Steven Adams, Specialized Public Finance: Financial advisor Steven Adams said Stifel and Frost were the underwriters, that "the hotel occupancy tax is the only pledge on this refunding and not the vehicle rental tax due to changes in state law," and that the refunding bonds "have a true interest cost of 1.32% versus the 4.02% interest of the outstanding bonds." The resolution passed unanimously on Dale Williams' motion. ^[2]

Bob Dransfield, bond counsel (Norton Rose Fulbright): Dransfield said the Second Amendment to the Amended and Restated Lease "extends the lease term to be the longer of 2051 or the final payment of all outstanding debt," that "only hotel occupancy tax supports the 2021 refunding bonds and any shortfall would be supported by payment from the City of Amarillo," and that "the City of Amarillo pays $10 per month or any shortfall on debt payments." The board approved it unanimously. ^[2]

The 2021/22 budget projected a $6,443,451 beginning available balance, $3,340,059 in revenues and $4,495,301 in expenses, for a September 30, 2022 reserve of $5,288,209. Tri-State Participation projects totaled $616,037, Civic Center Improvement projects $1,865,000, and requested event assistance $200,000; Vance Reed's motion to raise the Event Development account to $250,000 and approve the rest carried unanimously. ^[11]

On November 16, 2021 Sherman Bass told the board the approved Civic Center projects were underway; on June 21, 2022 interim Civic Center manager Bo Fowlkes said the district-funded Civic Center projects were scheduled to be completed in late July or early August 2022. The minutes do not list the individual projects. ^[19][20]

Storrs said hotel occupancy and vehicle rental tax receipts "were coming in stronger than anticipated." The 2022/23 budget projected a $5,908,959 beginning balance, $4,116,543 in revenues and $5,023,737 in expenses, leaving a projected September 30, 2023 reserve of $5,001,765, with $998,500 in Tri-State projects, $1,900,000 in Civic Center Improvement projects and $355,000 in event assistance. Williams' motion to approve it carried unanimously. ^[12]

In June 2022 the Tri-State Exposition asked for $30,000 for Tri-State Fair incentives such as award money, saddles and added shows; board members said most participants come from outside Potter and Randall counties but "were not sure how many stayed in hotels," and tabled it. On August 22, 2022 the board, on Bickerstaff's motion, voted unanimously to deny the request. ^[20][12]

Finance Director Matt Poston reported unaudited fiscal 2021/22 revenues of $3,984,718 against a $3,340,025 budget and expenditures of $1,740,527 against $1,900,051 budgeted, for net income of $2,244,190. ^[21]

Storrs said the board had previously approved $805,000 for the demolition and abatement of the baseball field at the Tri-State Fairgrounds. The highest evaluated bidders were Lloyd Nabors (Lot 1, $175,000.00) and Arlo Environmental (Lot 2, $23,507.00), a total award of $198,507.00, approved unanimously. On a separate motion the board moved "the total remaining budget of $606,493 to a new line item for fencing and grounds maintenance." ^[5]

On August 21, 2023 Tri-State Exposition general manager Brady Ragland said the stadium had been demolished and the Exposition was adding fencing around the site and creating a parking surface. ^[13]

The 2023/24 budget, approved unanimously, proposed $4,109,924 in revenues and $3,395,540 in expenditures for a September 30, 2024 fund balance of $5,687,891, with $627,025 for Tri-State participation projects, $340,000 for events at the Amarillo National Center and $615,000 for Civic Center improvements, which Civic Center general manager Bo Fowlkes explained. ^[13]

Quarterly reports record transfers from the district to its debt service fund of $786,000 for fiscal 2022/23 (reported November 21, 2023) and $824,000 for fiscal 2023/24 (reported November 4, 2024). The fiscal 2023/24 year-end report also lists a $340,660 transfer to the Civic Center Improvement fund. ^[22][23]

For the first quarter of fiscal 2023/24 Storrs reported hotel occupancy tax receipts of $633,912 and auto rental tax receipts of $322,747 (March 4, 2024). For the first six months she reported hotel occupancy tax receipts of $1.1 million, auto rental tax of $0.6 million, investment earnings of $151,297, total revenues of $1.9 million and expenditures of $0.7 million, with $366,000 transferred to the debt service fund (May 13, 2024). ^[6][24]

Dipak Patel (board member); Kashion Smith (CVB Executive Director): The minutes record that "Mr. Dipak" (board member Dipak Patel, listed among the voting members present) "stated that the dip in hotel occupancy tax receipts are entirely due to the City providing an incentive to the Embassy Suites in downtown Amarillo," and that CVB Executive Director Kashion Smith "shared that rate integrity has been an issue," that "increases in room inventory leads to rate decreases, and we may see rates drop more." ^[24]

The minutes do not describe the incentive referred to, give its amount, or show how it would affect the district's receipts, and no City statement on the cause of the dip was found. The statements are recorded here as made. ^[24]

The 2024/25 budget proposed $4,360,537 in revenues and $4,674,787 in expenditures for a September 30, 2025 fund balance of $5,253,902, with $879,950 for Tri-State participation projects, $440,750 for events at the Amarillo National Center and $1,545,000 for Civic Center improvements. Bickerstaff's motion to approve it except to lower the interest income estimate by 20% and raise the insurance line to $200,000 carried 6-0. ^[7]

Unaudited fiscal 2023/24 results reported November 4, 2024: revenues of $4,258,840, expenditures of $1,811,642, transfers of $824,000 to debt service and $340,660 to the Civic Center Improvement fund, and net income after transfers of $1,282,538; total assets of $9,350,922. ^[23]

On March 24, 2025 the board voted 7-0 to amend the 2024/25 budget by $160,000 for "Project 14 - Demo Asphalt & Install Concrete Driveway" at the fairgrounds; Storrs said the amendment also needed approval by the City Council and the Potter County Commissioners Court. On May 12, 2025 she confirmed both had approved it. ^[8][25]

The 2025/26 budget proposed $4,586,434 in revenues and $4,145,942 in expenditures for a September 30, 2026 fund balance of $5,688,732, with $868,818 for Tri-State participation projects, $449,500 for events at the Amarillo National Center and $908,000 for Civic Center improvements. Bickerstaff's motion to approve it with an additional $375,000.00 for an air conditioner improvement project at the Amarillo National Center carried 6-0. ^[14]

At June 30, 2025 the district reported total assets of $13,352,803, liabilities of $4,055,598 and a fund balance of $9,297,205; year-to-date revenues of $3,196,335, expenditures of $1,866,503 and $543,000 in transfers to the debt service fund. The minutes do not explain the liabilities. ^[14]

Civic Center improvement amounts in the district's adopted budgets, as recorded in the minutes: none listed for 2020/21; $1,865,000 for 2021/22; $1,900,000 for 2022/23; $615,000 for 2023/24 (amended to $1,213,767 in March 2024); $1,545,000 for 2024/25; and $908,000 for 2025/26. These are budgeted amounts, not spending. ^{[10][11][12][13][6][7][14]}