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Board adopts 2020/21 budget and votes 7-0 to pursue an election widening the district's footprint
Board President Terry Wright said the district's footprint within the Tri-State Fairgrounds needed to expand and that this would require voter approval because the original project was voted on in 1998. The board voted 7-0, pending a bond counsel legal opinion, to move toward placing an expansion of the fairgrounds and Civic Center footprints on a ballot. The board also adopted a 2020/21 budget with $2,636,761 in anticipated revenue and $2,419,949 in expenses, and approved Lease Addendum No. 7 recording $300,937 in 2019/20 fairgrounds projects as lease payments to the Amarillo Tri-State Exposition.[1]
What the sources say
- ✓ Verified
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. [1]
- ✓ Verified
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. [1]
- Revenue
- $2,636,761
- Expenses
- $2,419,949
- Projected reserve
- $5,476,109
- ✓ Verified
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). [1][2][3][4][5][6]
