Amarillo College regents approve a 20-year TIRZ #1 extension at 50% participation
The Amarillo College Board of Regents unanimously approved an addendum to the college's Center City TIRZ #1 participation agreement with the City of Amarillo, described in the minutes as a 20-year extension at 50% property tax rate participation.[1]
Amarillo College Board of Regents minutes for February 28, 2023 describe the item as an addendum to the Center City TIRZ #1 participation agreement 'for a 20-year extension at 50% property tax rate participation'; Regent Peggy Thomas moved to approve, Regent David Woodburn seconded, and the motion carried unanimously.[1]
✓ Verified
Andrew Freeman told the regents there were 13 years left on the 30-year TIRZ #1 term, that in November the TIRZ #1 board had voted to extend it by 20 years at a reduced rate, and that the extension was needed because of the zone's size and projects still in progress or in development.[1]
✓ Verified
At the same meeting Regent David Woodburn, the college's TIRZ #1 board member, reported that the TIRZ board had voted to forgive or stop interest on a large note made to a local government corporation that helped finance the garage's rentable space.[1]
Unverified
No fetched source shows whether the Panhandle Groundwater Conservation District agreed to participate in TIRZ #1 after 2036; the district's 2023 board agendas posted on its website list no TIRZ #1 item.[2][3]