Interim Amarillo Economic Development Corporation (AEDC) Chair Alex Fairly provided an update during today’s Amarillo City Council meeting, emphasizing that the organization remains stable and operational despite recent board member resignations.
AEDC Operations Remain Stable
Fairly assured the council that AEDC’s current projects are secure and progressing as planned.
“In the short term, I think the AEDC is just fine,” Fairly stated. “I don’t think we have any deals that even are at risk. We certainly don’t have any deals that are lost; deals that we thought were done are still done.”
This positive outlook reflects the AEDC’s resilience amid recent organizational changes, affirming that its core functions remain intact.
Articles of Incorporation Under Revision
Fairly highlighted ongoing efforts to revise and update the AEDC’s articles of incorporation. These revisions aim to streamline the organization’s governance and bring clarity to procedural language.
“There’s just a lot of cleanup and little things and references to places in the statutes that need to be added and tuned up,” Fairly explained. “Probably stuff that should have been done, you know, between now and then, when it was written. I think the EDC’s attorney and George have collaborated well and worked through several iterations.”
The main structural update centers on budgetary processes, with a focus on delineating decision-making responsibilities.
“The main structural change to the articles is the discussion about what kind of budget-type decisions, you know, how they should get treated,” Fairly said. “Like can we say these are okay once they’re agreed by you all, and they can go execute? And then are there some that are like, you got to come back on all these?”
Mayor Cole Stanley’s Timeline for Revisions
Mayor Cole Stanley expressed his desire for a clear timeline to finalize the articles of incorporation and related documents. He proposed presenting the revised articles for review by the council on January 14, followed by a vote on procedures and budgets on January 28.
“If I have my way, we will have articles voted on the 14th, agreeable by both parties, bylaws, procedures, and budgets voted on the 28th agreeable by both parties and both lawyers,” said Stanley.
Board Restructuring in Progress
Following the resignation of former board members, 55 applications have been submitted for the AEDC board. Council members discussed strategies to narrow down the candidate pool and plan for future appointments.
Mayor Stanley suggested allowing the interim board to serve through January, with permanent board nominations occurring in February. “An informal list of your recommendations for discussion, only for nominations for a permanent board, and then the first meeting in February... that would be where you would do board nominations per standard protocol,” he noted.
Moving Forward
The AEDC’s ability to maintain its operations and focus on structural improvements reflects a strong foundation for future growth. With clear timelines and collaborative efforts between legal teams and city leadership, the organization is poised to emerge stronger.
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