5-10-9. Project evaluation; department.
146 words·~1 min read·
/nm/chapter-5-municipalities-and-counties/article-10-local-economic-development/5-10-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The local or regional government shall review each application for public support submitted pursuant to Section 5-10-8 NMSA 1978, and any public support shall be approved by ordinance.
B. The local or regional government's evaluation of an application shall be based on the provisions of the economic development plan, the financial and management stability of the qualifying entity, the demonstrated commitment of the qualifying entity to the community, a cost-benefit analysis of the project and any other information the local or regional government believes is necessary for a full review of the economic development project application.
C. The local or regional government may negotiate with a qualifying entity on the type or amount of public support to be provided or on the scope of the economic development project.
History: Laws 1993, ch. 297, § 9; 2007, ch. 160, § 13; 2021, ch. 3, § 6.