Interim CEO describes the amendment; council consideration set for January 13
KVII reported that the amendment could save nearly $2 million in incentives, that interim president Doug Nelson said Texas Tech was still owed about $5 million over the next three years, and that the City Council was scheduled to consider the proposal on January 13, 2026. The council approved the amendment 5-0 on January 13, 2026.[1][2]
Doug NelsonAmarillo Economic Development Corporation (AEDC)Texas Tech University System
Doug Nelson, AEDC interim president and CEO: Interim president Doug Nelson said, 'What we've proposed to Texas Tech is that we take a discount on that future cash flow,' and that 'That $1.8 million that we'll save can then be used to do other projects and bring more jobs.'[1][3]
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KVII reported that the incentives were meant to support construction costs and staff salaries for the veterinary school, and that the City Council was scheduled to consider the amendment at its January 13, 2026 meeting.[1]