Commission approves Pampa EDC and Pampa Energy Center budgets; EDC plans reserve drawdown

The commission voted to approve operating budgets for the Pampa Economic Development Corporation (EDC) and the Pampa Energy Center (PEC) after a presentation by EDC Director Ryan Bradley.

Bradley (Speaker 13) said the EDC expects to receive about $1,400,000 in sales tax revenue this year — an approximate 7% increase over prior estimates — and that the organization plans a $750,000 drawdown of cash reserves plus an additional $200,000 allocated to beautification and workforce initiatives. Bradley also said the EDC’s personnel budget will increase from $286,000 to $374,000 to support a planned new hire and merit adjustments.

On the PEC side, Bradley described the former Celanese site (advertised as PEC North and PEC South) and reported about $2,300,000 in income over the prior 10 months with expenses near $1.2 million and an expectation of $1.4 million in expenses by fiscal year‑end. He noted recent tenant and rail activity, board changes (Ted Hutto resigned; Nathan Bailey joined as PEC treasurer), and growing legal fees tied to business development efforts.

Commissioners asked about rising insurance costs and other line items; Bradley said he would review insurance coverage and look for overlaps to reduce costs next year. The motion to approve both the EDC and PEC operating budgets carried by voice vote.

Quotes: "The EDC is expecting to receive 1,400,000 in sales tax revenue..." — Speaker 13; "For the previous 10 months, it has been dollars 2,300,000.0" — Speaker 13.

Next steps: staff will process the budget approvals and the EDC will continue board recruitment for two vacancies effective January 1.