The Amarillo City Council took significant steps regarding the Amarillo Economic Development Corporation (AEDC) during Tuesday’s regular meeting, approving new bylaws, a budget, and discussing the future of the AEDC board.
In a unanimous 5-0 vote, the council approved the amended AEDC bylaws. These revisions were initially discussed in a prior meeting after the council approved the Certificate of Formation, previously known as the Articles of Incorporation. Alongside the bylaws, the council also approved the AEDC’s operating budget for the 2024-2025 fiscal year, which exceeds $37 million.
Reshaping the AEDC Board
One of the major topics of discussion was the formation of a new AEDC Board. Following the resignation of four out of five board members in November due to disagreements with the city council, a temporary board was appointed, consisting of Howard Smith, Don Tipps, Josh Craft, and Alex Fairly.
Since then, the temporary board has implemented changes to AEDC’s governing documents and policies. With 55 individuals applying for board positions, the council is now in the process of selecting a permanent board. However, no official date has been set for when those members will be seated.
Craft and Tipps provided input on the timeline for finalizing board appointments, emphasizing that more work remains before the transition can take place.
Future of AEDC Leadership
Attention is now turning toward the leadership of AEDC President and CEO Kevin Carter. The AEDC board has scheduled a meeting on Friday, where an executive session will be held to discuss Carter’s role. The agenda includes evaluating a possible separation agreement.
Economic Development & Incentives
In addition to governance matters, the council approved an extension to the Location Incentive Agreement between AEDC and a company focused on bringing vertical farming to Amarillo. This move aligns with the city’s broader economic development strategy.
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