The Amarillo City Council recently approved three development agreements aimed at accelerating the construction of the Kids Inc sports complex in south Amarillo. The agreements involve the partners funding the construction costs for infrastructure such as water and other utilities, streets, and a parking lot. These costs will be reimbursed over time as tax collections increase from development in a designated zone located at the intersection of Loop 335 and I-27.
The partners involved in these agreements include the Amarillo Economic Development Corporation, who will be contributing $7.5 million towards streets and utilities. Attebury Elevators and Rockrose Development will be spending $4.6 million on streets and utilities, with Attebury and Rockrose also building a $3 million parking lot as part of the project.
This initiative is expected to not only support the construction of the Kids Inc sports complex but also facilitate the growth and development of the surrounding area. By investing in infrastructure and amenities, the partners hope to attract more businesses and residents to the region, ultimately boosting economic activity and tax revenues.