· 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.[1][2]
Kevin CarterThe Range (formerly the Amarillo Global Food Hub)Amarillo Economic Development Corporation (AEDC)
What the sources say
- ✓ Verified
On January 20, 2023 the AEDC wired $750,000 to The Range, prepaying 2023-2025 dues ($250,000/year).[1]
- 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.[1]
- 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.[1]
- ✓ 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.[2]
- Transfer
- $750,000
- Booked prepaid
- $500,000