AAF seeks investors for proposed athletic facility - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

AAF seeks investors for proposed athletic facility

Amarillo, TX - Amarillo could see a multi-million dollar athletic facility in the near future, if organizers can generate enough support.

The Amarillo Area Foundation is trying to round up a consortium of local businesses to petition the city for a new recreation facility in southeast Amarillo. But getting there will most likely require a pretty hefty down payment before the city would consider financing the rest with taxpayer dollars.

The proposed Amarillo Recreation Complex, or "ARC," would include an indoor aquatics center, bike trails, baseball fields, and several other amenities. It would be just south of the Rick Klein Sports Complex on Grand Street, and organizers say it would serve 30 to 40 thousand area families and children.

The total price tag stands at somewhere between $35 and $38 million, most of which would be funded through bonds.

"We would like to have a bond election, and we're going to propose our plan to them on August 13th," says Trevor Caviness of Caviness Beef Packers, "But with that, if we can bring a significant amount of private dollars to this, it will minimize the economic impact to the citizens of this community."

So before they approach the city, the AAF's plan is simple: the more money they raise through private investments, the more likely the city will be to approve a bond election.

"We want to make a point to prove to the city that we have support, and we've started our capital campaign for commitments to this project," says Amarillo National Bank Vice President William Ware,  "We've got to move on this; this is our opportunity. If we miss it, we could see another year go by, and we just don't want to see that happen. It's important for the families and children in Amarillo that we get this started now."

If the city decides to put the proposal to a vote, the bond election would be held November 5th.

You can find out more about the proposal at the links attached to this story.

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