AMARILLO, Texas (KFDA) - Amarillo city council members didn’t take a vote at today’s meeting, but there was a general agreement to go ahead with a bond election to pay for an expanded Civic Center complex.
If approved, voters will have a say in November on issuing $275 million in debt. The city would issue another $21 million in debt without voter approval.
Deputy City Manager Kevin Starbuck said interest rates have come down since the council postponed the election in May as the pandemic worsened.
At the time, the needed property tax increase would have been 15 cents per $100 of taxable property value. At today’s rates, that would be about 13 cents or $132 more per year on a tax bill for $100,000 of taxable property.
The project would include enlarging the events area, adding an arena, relocating City Hall, building a parking garage and restoring the Santa Fe Depot.