Storyline · 15 events · 2021 – Mar 26, 2026
AEDC's $750,000 payment to The Range and the resulting inquiry (2022-2026)
The Amarillo Economic Development Corporation, a city-chartered corporation, budgeted $100,000 for membership in The Range (then the Amarillo Global Food Hub) in August 2022 (one report dates the commitment to 2021). In January 2023 it wired $750,000 to prepay 2023-2025 dues against a $100,000 budget line. A 2024 citizen complaint triggered a city inquiry and audit; four of five AEDC board members resigned and CEO Kevin Carter separated in early 2025. A permanent CEO was named in 2026.
A storyline groups dated events in order. It is a chronology, not an argument; it does not say why anything happened. All storylines
- Leadership & governance
- Downtown & development
- Audits & oversight
- Budget & taxes
- Contracts & procurement
- Votes & elections
· Context
AEDC described as a RANGE member with $250,000 annual dues
The Tribune's Oct. 10, 2024 explainer says the AEDC paid $250,000 annual dues three years in advance in 2021; the Tribune's Dec. 1, 2024 timeline lists no 2021 payment and dates the first budgeted membership ($100,000) to August 2022.[1][2][3]
Kevin CarterThe Range (formerly the Amarillo Global Food Hub)Amarillo Economic Development Corporation (AEDC)
- ⚠ Sources differ
Accounts differ on when the AEDC's $750,000 prepayment commitment originated.
Reported value 1[1]
- Year
- 2,021
- Milestone
- founding-member commitment ($250k/yr)
The Tribune's Oct. 10, 2024 explainer states the AEDC 'paid its annual membership dues of $250,000 for three years in advance in 2021.' The Tribune's Dec. 1, 2024 timeline lists no 2021 commitment or payment.
- ✓ Verified
The Amarillo Tribune's December 1, 2024 timeline of the AEDC's involvement with The RANGE lists no 2021 membership commitment or payment. Its 2021 entry is a November 22, 2021 board presentation with no action taken; the first budgeted membership amount is $100,000 in the 2022/2023 AEDC budget approved August 29, 2022; and the $750,000 payment is dated January 20, 2023.[3]
- ✓ Verified
The Tribune's October 10, 2024 explainer reports that the Texas Comptroller's taxable-entity search shows an Amarillo Global Food Hub Secretary of State effective registration date of August 13, 2022. The same article states the AEDC 'paid its annual membership dues of $250,000 for three years in advance in 2021.'[1]
- ⚠ Sources differ
The two Tribune articles give different dates for The Range Foundation's tax-exempt status.
Reported value 1[1]
- Date
- 2023-04-11
October 10, 2024 explainer: 'awarded 501(c)(3) tax-exempt status from the IRS on April 11, 2023.'
Reported value 2[3]
- Date
- 2024-03-08
December 1, 2024 timeline: 'The RANGE Foundation is granted tax-exempt status' (March 8, 2024); its certificate of formation was filed April 10, 2023.
· Precursor
AEDC board hears HR&A Advisors presentation on regional innovation study
According to the Amarillo Tribune's timeline, AEDC board member Laura Street introduced a representative of HR&A Advisors, Inc., who presented the study HR&A was conducting on Amarillo and the Panhandle for innovation projects. No action was taken. A second presentation on January 19, 2022 included the future executive director of The RANGE; again no action was taken.[3]
Laura StreetAmarillo Economic Development Corporation (AEDC)
· Precursor
AEDC board accepts HR&A Innovation Development Strategic Plan
The Tribune timeline reports that Laura Street presented the research findings and proposed plan, she and AEDC President and CEO Kevin Carter answered board questions, and the board approved the HR&A Innovation Development Strategic Plan unanimously.[3]
Laura StreetKevin CarterAmarillo Economic Development Corporation (AEDC)
· Origin
AEDC budget includes $100,000 for Amarillo Global Food Hub membership
The AEDC board approved its 2022/2023 budget with $100,000 under project support for Amarillo Global Food Hub membership; the AEDC's outside counsel later wrote that neither organization knew the fee amount and the figure was a placeholder. The City Council approved the same budget on September 13, 2022, and it took effect October 1, 2022.[3]
Amarillo Economic Development Corporation (AEDC)The Range (formerly the Amarillo Global Food Hub)
- ✓ Verified
Under project support, the AEDC's 2022/2023 budget included $100,000 for Amarillo Global Food Hub membership; according to a memo from the Underwood Law Firm, neither The RANGE nor the AEDC knew what the membership fee would be, and the amount was a placeholder.[3]
- Budgeted
- $100,000
· Starting point
AEDC wires $750,000 to The Range (prepaying 2023-2025) against a $100,000 budget
Kevin Carter emails city finance officials requesting a $750,000 transfer to The Range; the City, acting as fiduciary agent, completes the wire the same day. The amount prepays 2023, 2024 and 2025 dues. The line item was budgeted at $100,000; AEDC counsel said the corporation stayed within its overall budget using savings from other lines.[2][3]
Kevin CarterThe Range (formerly the Amarillo Global Food Hub)Amarillo Economic Development Corporation (AEDC)
- ✓ Verified
On January 20, 2023 the AEDC wired $750,000 to The Range, prepaying 2023-2025 dues ($250,000/year).[2]
- Amount
- $750,000
- 0
- 2,023
- 1
- 2,024
- 2
- 2,025
- Annual dues
- $250,000
- ✓ Verified
The line item was budgeted at $100,000; the $750,000 transfer was a $650,000 overage, which AEDC counsel said stayed within the corporation's overall budget.[2]
- Budgeted
- $100,000
- Actual
- $750,000
- Overage
- $650,000
- ✓ Verified
AEDC President/CEO Kevin Carter also served on the board of the Range Foundation; he stated he received no compensation for the foundation role, and a legal memo addressed the dual role.[2]
- ✓ Verified
According to the Tribune timeline, on January 20, 2023 Kevin Carter emailed a City employee asking that $750,000 be transferred from the project account to the Amarillo Global Food Hub for dues, specifying that $500,000 should be 'booked' as prepaid dues for the next two years; the payment was sent the same day. At the October 8, 2024 council meeting Carter said the then-board chairman and vice chairman authorized the payment. The increase from the budgeted $100,000 was not brought before the AEDC board or City Council.[3]
- Transfer
- $750,000
- Booked prepaid
- $500,000
· Trigger
City Council takes up a citizen's questions about the $750,000 wire in closed session
A citizen's concern about the payment prompts the City Council to open an inquiry into the AEDC's payments over the prior three years.[4][2][3]
Amarillo Economic Development Corporation (AEDC)The Range (formerly the Amarillo Global Food Hub)
- ✓ Verified
The Tribune timeline reports that Hyde Kelley LLP billed the City for work related to the AEDC and The Range beginning July 1, 2024, and that, based on invoices for work through September 30, 2024 obtained through public information requests, the City had paid the firm $40,975.50 for the inquiry ('our best analysis of these invoices').[3]
- Paid through 2024 09 30
- $40,976
- ✓ Verified
The timeline says a local businessman and former AEDC board member came across The RANGE in summer 2024, sent several public information requests about the $750,000 payment and copied the City Council; the AEDC's counsel sent the board a memo on the transaction on August 19, 2024, and the council met in closed session on the matter on August 27, 2024.[3]
· Related development
Council tables AEDC budget and directs an internal audit of three years of AEDC finances
At its September 10, 2024 meeting the council tabled approval of the AEDC's 2024/2025 budget until the AEDC had new policies in place and directed the City's internal auditor to audit the AEDC's finances for the past three years. Mayor Cole Stanley cited Texas Local Government Code Sec. 501.073(a), under which the authorizing unit approves a development corporation's programs and expenditures.[3]
Cole StanleyAmarillo Economic Development Corporation (AEDC)
- ✓ Verified
On September 10, 2024 the council tabled approval of the AEDC's 2024/2025 budget until the AEDC had new policies in place and directed the internal auditor to audit the AEDC's financials over the past three years; the audit began September 11. Mayor Stanley said the council's issue was that it is the AEDC's authorizing unit and state law requires it to oversee the corporation.[3]
Mayor Stanley characterizes the transfer as 'unlawful' but 'not illegal'
Mayor Cole Stanley describes the $750,000 transfer as 'unlawful' but 'not illegal' as the council presses the AEDC on its budgeting practices.[2]
Cole StanleyAmarillo Economic Development Corporation (AEDC)
- ✓ Verified
Mayor Cole Stanley: Mayor Cole Stanley characterized the transfer as 'unlawful' but 'not illegal.'[2]
· Context
State EDC association president criticizes the council's scrutiny
Carlton Schwab, president of the Texas Economic Development Council, calls the Amarillo City Council's scrutiny of the AEDC 'shameful' and 'absurd.'[5]
Amarillo Economic Development Corporation (AEDC)
- ✓ Verified
Carlton Schwab, Texas Economic Development Council: Carlton Schwab, president of the Texas Economic Development Council, called the city council's scrutiny of the AEDC 'shameful' and 'absurd.'[5]
· Related development
AEDC board adopts approval threshold for unbudgeted spending over $50,000
The AEDC board approved policies requiring AEDC board and City Council approval of unbudgeted expenditures over $50,000 and a budget amendment when a budgeted line is exceeded by more than $50,000. The council approved an AEDC operating budget limited to salaries, contractual obligations and operating expenses on September 30, 2024.[3]
Amarillo Economic Development Corporation (AEDC)
- ✓ Verified
The AEDC policy approved September 24, 2024 states: 'All Expenditures over $50,000 that are not budgeted for will require Amarillo EDC Board and the Amarillo City Council Approval. In addition, any budgeted line item that exceeds $50,000 over the budgeted amount will require a budget amendment approved by the Amarillo EDC Board and the Amarillo City Council.' Expenditures over $500,000 also require two signatures.[3]
- Approval threshold
- $50,000
· Peak
City publishes AEDC audit; Mayor seeks board and CEO resignations
The City publishes an audit reviewing AEDC expenditures over $25,000 for fiscal years 2022-2024. Mayor Stanley calls for the resignations of AEDC board members and Kevin Carter.[6][3]
Cole StanleyKevin CarterAmarillo Economic Development Corporation (AEDC)
- ✓ Verified
The published audit reviewed AEDC expenditures over $25,000 for fiscal years 2022-2024.[6]
- Threshold
- $25,000
- 0
- 2,022
- 1
- 2,023
- 2
- 2,024
- ✓ Verified
The Tribune timeline reports that at the October 8, 2024 meeting the internal auditor called the payment to The RANGE an 'anomaly,' and at the November 12, 2024 meeting said nothing stood out as irregular but that there was no policy against which to judge transactions.[3]
Four of five AEDC board members resign
Chairman Andrew Hall, Vice Chairman Adrian Meaner, Scott Bentley and Helen Burton resign, citing 'irreparable damage to Amarillo's current economic development efforts' by the Mayor and several council members. The council later installs a temporary board.[7]
Amarillo Economic Development Corporation (AEDC)
- ✓ Verified
The four resigning AEDC board members (joint statement): Four of five AEDC board members — Chairman Andrew Hall, Vice Chairman Adrian Meaner, Scott Bentley, and Helen Burton — resigned, citing 'irreparable damage' to economic development by the Mayor and council.[7]
- Resigned
- 4
- Board size
- 5
· Resolution
CEO Kevin Carter separates from the AEDC
After months of controversy, the AEDC board authorizes a separation agreement with President/CEO Kevin Carter; his last day is January 31, 2025. He had led the AEDC for about five years.[8]
Kevin CarterAmarillo Economic Development Corporation (AEDC)
- ⚠ Sources differ
Kevin Carter's last day was January 31, 2025; the AEDC agreed to continue paying his salary (reported ~$245,000) through the end of the year. He had led the AEDC about five years.
Doug Nelson named interim CEO; board chair presents findings
The temporary board names Senior VP Doug Nelson interim president/CEO; board chair Alex Fairly presents findings from the review.[10]
Doug NelsonAlex FairlyAmarillo Economic Development Corporation (AEDC)
· Resolution
Dr. Andreas Eckstein named permanent AEDC president/CEO
The AEDC names Dr. Andreas Eckstein as its new president and CEO.[11]
Andreas EcksteinAmarillo Economic Development Corporation (AEDC)
Related storylines: Amarillo city manager turnover (2015-2026)