· Resolution
AEDC pays off the remaining Texas Tech commitment, according to the City's FY2025 audit
The City's fiscal 2025 annual financial report, issued June 4, 2026, states that after September 30, 2025 the AEDC paid off the remaining balance owed to Texas Tech in two installments of $5,202,676.47 and $13,653,467.33, the second due on or before January 21, 2026. The report does not give the dates the payments were made; the date shown is the stated due date.[1]
Amarillo Economic Development Corporation (AEDC)Texas Tech University System
What the sources say
- ✓ Verified
The City's fiscal 2025 annual financial report states: 'Subsequent to year end, AEDC paid off the remaining balance of the Texas Tech Payable. The last two installments were $5,202,676.47 and $13,653,467.33, respectively, with the first such installment due under the terms of the agreement following AEDC's receipt of the Certificate for the Performance Year ending on August 31, 2025, and the second such installment shall be due on or before January 21, 2026.'[1]
- Installment 1
- $5,202,676
- Installment 2
- $13,653,467
- ✓ Verified
The report, issued June 4, 2026, does not state the dates on which the two installments were paid; no fetched AEDC or news source reports the payment date.[1]
- ✓ Verified
Arithmetic from the City's reports: $30,000,000 paid through September 30, 2024 plus the $5,202,676.47 and $13,653,467.33 installments totals $48,856,143.80, against a commitment of $50,810,706 ($30 million plus the $20,810,706 remainder) after the 2023 reduction.[2][1]
- Computed total paid
- $48,856,144
- Computed commitment
- $50,810,706