Downtown Amarillo Inc. "financially stable" enough to move forward without city funding

Downtown Amarillo Inc. "financially stable" enough to move forward without city funding

Amarillo, TX (KFDA) -  A local organization will be losing out on thousands of dollars of funding, but they are staying optimistic.

No more funding....that's the choice the City of Amarillo made last night when it comes to DAI.

With executive director Melissa Dailey resigning this week, what else will DAI be losing out on?

For eight years the city of Amarillo helped fund Downtown Amarillo Inc. but that funding came to an end last night.

Both organizations, however want to make it clear the only severance between them is funds, not communication or a working relationship.

"As this morphs into a new, progressive beginning, we'll see them continue to do things that will help provide a vision and work effort to pull things together downtown. The city staff wanted to bring some of those things as we move forward underneath the city a bit more," says Mayor Paul Harpole.

"What DAI wants to do is really utilize this as an exciting, new opportunity for ourselves that again we are seeing things like the MPEV move into an execution phase. So now it's time for us to go and start thinking the next big things and because when you look at downtown we have so much to be proud of," says DAI Chairman John Lutz.

Lutz says DAI is in a position financially where this loss will not be a heavy hit.

"DAI is in a solid position from the standpoint that we've always been very conservative with our monies and as I've told people, we've got a couple of accountants on our board and those accountants have always made sure that the way we operate ourselves is appropriate, and so we have some funds in place that we're able to rely on to continue our efforts."

Harpole says some of those city funds will be absorbed into city budget, others will go toward salaries for a person or persons to promote further economic development and planning.

"They stand alone and continue to do their work but this is really about developing the streets and the businesses and the retail and bringing other things in so that we can promote retail growth in Amarillo," says Harpole.

"We're really excited to take all the drama that has surrounded some of these issues and set it aside and again, just move forward. We are in a position today that cities across the country would give their right arm to be in and that's to have this investment going in and to see their downtown revitalized," says Lutz.