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Commission approves $850,000 settlement and mutual release with Country 2, Inc.
Summary
The Pampa City Commission approved a mutual-release agreement allowing Country 2, Inc. to settle a prior PEDC funding commitment for $850,000 after the PEDC board negotiated the amount; staff said the payment will be delivered about two weeks after final signatures.
The Pampa City Commission approved a mutual release and settlement that ends an earlier economic-development agreement between the Pampa Economic Development Corporation (PEDC) and Country 2, Inc., under which the PEDC originally committed $1.2 million in 2018. Ryan Bradley, PEDC executive director, told the commission both parties negotiated a revised settlement amount of $850,000 and that the PEDC board unanimously recommended the settlement after…
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