New Mexico Statutes Chapter 6. Public Finances § 6-25B-6. Strategic economic development sites; designation; implementation

Current as of January 01, 2024 | Updated by Findlaw Staff

A. The secretary shall review site characterization studies conducted pursuant to Section 3 of the Strategic Economic Development Site Readiness Act and shall determine, after consideration of the recommendations of the strategic economic development site advisory committee:

(1) whether there needs to be further study of the characteristics of proposed economic development sites; or

(2) whether the proposed economic development site should be designated as a strategic economic development site.

B. Upon designation as a strategic economic development site, the secretary may solicit proposals from public partners and private partners for site pre-development projects that will enhance the readiness of the strategic economic development site. Site pre-development projects may include:

(1) surveying, engineering, planning and architectural work required in advance of construction on site development and building construction;

(2) environmental assessments and remediation;

(3) public infrastructure improvements necessary prior to the start of site development and building construction, including roads and utilities;

(4) site preparation, including landscaping and drainage improvements; and

(5) governmental permitting.

C. The secretary shall review proposals from public partners and private partners for site pre-development projects and shall determine, after consideration of the recommendations of the strategic economic development site advisory committee, which proposed site pre-development projects could be funded in whole or in part by grants and loans from the site readiness fund or should be recommended for funding from the public project revolving fund or other funding resources.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 6. Public Finances § 6-25B-6. Strategic economic development sites; designation; implementation - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-6-public-finances/nm-st-sect-6-25b-6/

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