FINANCIAL_SERVICESAPPROVED

Amarillo Water Utilities Awards Financial Services Contract to Rillo Investments Llc (May 2026)

The City of Amarillo approved a TIRZ #1 developer agreement with Rillo Investments, LLC for construction of a $28 million, 122‑room Hampton Inn downtown. In return, the developer will receive a 10‑year, 100% property tax rebate and up to $900,000 in grant funding for eligible project costs.

Status
APPROVED
Document date
May 9, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Rillo Investments Llc
Agency
Amarillo Water Utilities · TX

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $900,000 grant plus 10 years of 100% property tax rebate
Contract type
FINANCIAL_SERVICES
Contract term
10 years of 100% annual property tax rebate for eligible taxing entities
Renewal
Developer receives a fixed 10‑year rebate term; no further renewal provisions are described.
Document type
Agenda
Source document
City of Amarillo Council Meeting Agenda May 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Amarillo Water Utilities?

Rillo Investments Llc was awarded this financial services contract by Amarillo Water Utilities, as recorded on May 9, 2026. The contract value is Not to exceed $900,000 grant plus 10 years of 100% property tax rebate.

How much is the Rillo Investments Llc contract with Amarillo Water Utilities worth?

The Rillo Investments Llc contract with Amarillo Water Utilities is valued at Not to exceed $900,000 grant plus 10 years of 100% property tax rebate, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Amarillo Council Meeting Agenda May 2026 (Agenda), dated May 9, 2026 from Amarillo Water Utilities. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Rillo Investments Llc hold?

Rillo Investments Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Rillo Investments Llc's profile

What is Amarillo Water Utilities currently buying?

Explore Amarillo Water Utilities's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Amarillo Water Utilities's profile

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