The Rio Grande Foundation has long been concerned with taxpayer subsidies for development. HB 353 would subsidize UNM development arm “Lobo Development” in order for them to develop the south campus area.
It is one of many concerning bills alive in the Legislature as it heads into its final week. Interestingly, all Republican house members voted to support the bill while several Democrats were opposed.
Perhaps most bizarre is the fact that South Campus is considered “blighted.” As the Albuquerque Journal story noted, “the tax district … area includes a science and technology park, university sports fields, Isotopes Park and student residences. Far from “blighted,” with two nearby Interstate highways, New Mexico’s flagship university, and the Sunport the area represents a great opportunity for redevelopment WITHOUT SUBSIDIES.