AEDC Proposed Budget Tabled, Council Discusses Wire Transfer & What To Do Moving Forward

What appeared at times to be uncomfortable conversation during Tuesday’s City Council  meeting involved Discussion Item 8.E.,  the “Update regarding Amarillo Economic Development Corporation in connection to financial assistance previously provided to the Regional Accelerator & New Growth Engine (RANGE).”

The uneasiness started when Mayor Cole Stanley said, “we don’t have anyone here to present this,” meaning no one from the AEDC or The RANGE were on hand.

Stanley outlined what the RANGE is and how it came to be before moving into the real focus, the wire transfer of $750,000 by AEDC President Kevin Carter to The RANGE, where Carter also serves and the Board Secretary.

Stanley mentioned a meeting held recently that included AEDC Board members Andrew Hall and Scott Bentley, Councilman Les Simpson, and himself (Stanley). That meeting, according to both Mayor Stanley and Simpson, resulted in the discovery that perhaps the transfer and how it was executed may not have been the right way to handle it. Simpson said Tuesday he was sure if they (Hall, Bentley, Carter) had it to do over again, they would do so differently.

While Stanley and Simpson appeared to be willing to excuse the transfer as an honest mistake, Councilman Tom Scherlen noted the Amarillo residents he has heard from are not at all happy, adding, “they say it doesn’t look right, it doesn’t smell right, there’s something wrong. Whenever you try to hide $650,000, there’s something wrong.”

Following some openly discussed policing thoughts concerning the AEDC’s ability to repeat such a transfer, the matter – along with the AEDC 24/25 budget proposal – tabled for two weeks.