Coca-Cola tax abatement approved - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Coca-Cola tax abatement approved

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Amarillo, TX - The downtown revitalization project takes a big step as a tax abatement request for Coca-Cola is approved.

The Potter County Commission voted 3 to 2 to grant a partial property tax abatement for Coca-Cola for 10 years.

This will start the process of rebuilding a new building for Coca-Cola to move into, freeing up 3 and a half blocks downtown for construction on a multipurpose event venue.

We spoke with Buzz David with Amarillo Economic Development Corporation about what this venue will be used for in Amarillo. "Baseball, outdoor concerts, and anything you can think of that is currently done in the area that would fit well in an outdoor arena or outdoor venue. It will help bring all those things to a location downtown to help stir some of the other developments occurring that will happen down here."

Excavation for Coca-Cola's new building has begun and the facility should be completed by March 1st of 2015.

Once Coca-Cola is moved out construction will be able to start on the multipurpose venue.