Lawmakers look at how to manage property if state fairgrounds are moved
SANTA FE, N.M. (KRQE) – While the governor considers moving the fairgrounds out of the International District in Albuquerque, lawmakers are now working on a plan for how to structure what could be a once in a generation redevelopment. The bill, SB 481, would set up a new district detailing how the more than 200-acre Expo New Mexico property would still be overseen by the state, if the fairgrounds pack up for a new location.
Story continues below
Video: Wrong way high-speed chase on I-25 in Albuquerque ends in arrest
Environment: ABQ BioPark moves some birds indoors to protect them from avian flu
Real Estate: Private lake retreat listed for $3.1 million in Santa Rosa
'There are redevelopment and reinvestment opportunities in surrounding neighborhoods,' said New Mexico Governor Michelle Lujan Grisham (D).
So, what happens if a redevelopment moves forward? Lawmakers are now trying to set up a board to execute it. Democratic Senator Mimi Stewart is sponsoring the bill to create a new 'Fairgrounds District,' which would keep the property in state hands, out of city and county control. 'Grocery stores and pharmacies will return. They have abandoned the area. Adjoining property owners will see their homes and business real-estate increase in value,' said Sen. Mimi Stewart, (D-Albuquerque).
Under the idea, the district could sign on contracts with neighboring governments, accept grants for redevelopment, or sell the property. 'This is a tremendous tool and opportunity to begin to improve the neighborhood, increase affordable housing access and do a lot of the things that the community has been hoping to do for several years,' said Roger Valdez, Director of Center for Housing Economics.
The bill would also make a five-member district board, made up of the governor, lieutenant governor, and Albuquerque mayor. Sen. Stewart stresses that a financial plan is needed. 'Masterplan is meaningless without a financial vehicle and that's what this bill would do,' said Sen. Stewart.
The bill cleared the Senate Tax, Business, and Transportation committee Tuesday afternoon with a few changes. It now heads to Senate Finance.
There's no guarantee at this point that the fairgrounds will be redeveloped. Earlier this month, the state quietly reposted its request to private developers to create a master plan for the district.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
San Francisco Chronicle
8 minutes ago
- San Francisco Chronicle
Elon Musk deletes anti-Trump posts as president warns of ‘serious consequences'
Elon Musk has quietly removed several high-profile posts on his social media platform, X, that directly criticized President Donald Trump, signaling a possible deescalation in a feud that exploded into public view this week. Among the deleted posts were Musk's accusations linking Trump to the late financier and convicted sex offender Jeffrey Epstein, as well as a now-vanished endorsement of a user's call for Trump's impeachment and replacement with Vice President JD Vance. The deletions were discovered Saturday morning, though it remains unclear why Musk removed the posts. On Thursday, Musk claimed that without him, Trump would not have secured the presidency, setting off threats from Trump to cut off government contracts with Musk's companies, including Starlink and Space X. 'Time to drop the really big bomb,' Musk replied. '@realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' The X page that once hosted Musk's post now displays a generic error message: ' page doesn't exist. Try searching for something else.' Musk had also replied 'yes' to a user's post calling for Trump's impeachment. By Saturday morning, that post had also been removed. The posts had marked a sharp escalation in the rift between Musk and Trump, who were once closely aligned. Trump purchased a red Tesla Model S in March and, just last week, appeared at a White House event alongside Musk, where he presented him with a ceremonial golden key to the nation. The alliance began to crack after Musk publicly criticized a sweeping GOP-backed budget measure, the 'Big Beautiful Bill,' which he said did not include the reforms he had championed while leading the Department of Government Efficiency under Trump. On Thursday, Musk called on Trump to 'ditch the MOUNTAIN of DISGUSTING PORK in the bill.' Trump, in turn, dismissed Musk's opposition and suggested cutting off federal subsidies and contracts with Musk's companies. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' the president wrote on Truth Social. In an interview with NBC News on Saturday, Trump warned of 'very serious consequences' if Musk were to fund Democratic candidates in retaliation. 'He'll have to pay the consequences for that,' Trump said, though he declined to elaborate. Trump added that Musk was being 'disrespectful to the office of the President.' He added, 'I think it's a very bad thing.' Asked whether he intended to mend the relationship, Trump responded simply: 'No.'
CNN
9 minutes ago
- CNN
Study shows young men are bailing on Democrats
A new study shows young men have moved away from Democrats in 2024. Ilyse Hogue, co-founder of the Speaking with American Men Project, tells Michael Smerconish that while many men still support progressive values, they don't always see themselves represented in the Democratic party.
Yahoo
12 minutes ago
- Yahoo
Moody's Downgrades America's Credit Rating Over D.C. Dysfunction
In a sure sign that President Donald Trump is ushering the U.S. into a new Golden Age, Moody's became the third and final credit ratings agency to downgrade America's rating on Friday, citing rising debt and interest payments, as well as dysfunction in Washington D.C. Downgrading America's financial outlook from 'stable' to 'negative,' Moody's pointed the finger at lawmakers, saying, 'Successive U.S. administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.' In doing so, the agency joined its fellow ratings agencies in removing the United States' former top triple-A status; Fitch downgraded the U.S. in 2023, and S&P did so back in 2011, where it has remained at AA+ ever since. The news comes as Trump's attempts to implement his radical fiscal policies in the form of his 'Big Beautiful' bill were thwarted by his fellow Republicans, who blocked the legislation. Trump's proposed plan focused on taxes, including extending 2017 tax cuts he previously implemented, and allocated $46.5 billion to resume construction of his long-talked-about border wall. Analysts have warned that the bill, including a proposed $5 trillion in tax cuts, could exacerbate the country's already massive debt. In a statement on Friday, Senate Democratic Leader Chuck Schumer (D-NY) said of the news, 'Moody's downgrade of the United States' credit rating should be a wake-up call to Trump and Congressional Republicans to end their reckless pursuit of their deficit-busting tax giveaway,' adding, 'Sadly, I am not holding my breath.' Chairman of the U.S. House Committee on Financial Services, Rep. French Hill (R-AR) also released a statement, pointing the finger at Democrats as well as his fellow Republicans and stating that the news served as a 'strong reminder that our nation's fiscal house is not in order,' a growing threat that agencies had been 'sounding the alarm' about for years but that 'neither party in power' had managed to fix. Since taking office, Trump has promised to balance the national budget, primarily through drastically lowering government expenditure by laying off huge swaths of the workforce via DOGE and implementing a convoluted series of tariffs that set off a trade war with China. The U.S. national debt now sits north of $36 trillion. In achieving a unanimous AA+ credit rating, the U.S. now sits alongside nations like New Zealand and Finland, but below Canada, Australia, and Germany.
