The multi-purpose event venue is set to include funding sources that were not originally revealed to voters before the 2015 non-binding referendum election, according to City officials.
City spokesperson Jesse Patton confirmed to the Amarillo Pioneer today that the MPEV funding structure may include public improvement district bonds.
"The MPEV takes no property taxes. It is funded through hotel occupancy taxes and possibly public improvement district bonds." Patton told the Amarillo Pioneer.
City Councilwoman Elaine Hays also told the Amarillo Pioneer that bonds backed by hotel occupancy taxes may be used to fund the MPEV.
"None of that has totally been all identified," Hays said, "All bonds would be backed by HOT taxes. Payments come from savings account from the HOT tax and from bonds backed by the tax. The third source would be from lease payment from the team."
During the 2015 citywide election, neither type of bond was mentioned as a funding source. Proponents of the MPEV campaign told voters that the project would be entirely funded by hotel occupancy taxes. Campaign spokesperson Dr. Paul Matney was adamant about this point during the election.
"Best of all, property taxes are not being used to build the facility," Dr. Matney said in a campaign statement on September 21, 2015, "Rather, the MPEV and ballpark will be built using Hotel Occupancy Taxes and private dollars. Visitors to our city are funding this. Not our residents."
According to information from Community Management Associates, Inc., public improvement districts are funded by property taxes, meaning that property taxes will be used to pay for at least a portion of the MPEV facility.
