September 11 Special Commission Meeting Summary

September 11, 2009

Below is a summary of the actions taken by the Santa Fe Board of County Commissioners in today’s Special Meeting.

Santa Fe Film Studios:
- The Commission voted [5-0] to approve the third amendment to the project participation and land transfer agreements as shown in the packet draft with minor modifications, and to approve a grant agreement with DFA and the State Department of Economic Development.
- There was unanimous authorization to publish title and summary of two ordinances: one providing a $6 million loan to La Luz Holdings and the Santa Fe Film Studios, and a second permitting use of County infrastructure GRT for local economic development.
Investment Report: Reviewing the County’s investment portfolio and recognizing the tumultuous year, County Treasurer Victor Montoya stated the County has suffered no losses since it depends on strictly collateralized investments.
Property Tax Rates: County Assessor Domingo Martinez announced that due to all of the taxing authorities increasing their budgets there will be higher tax rates, principally for non-residential properties, including vacant land and commercial. The tax rates were approved 3-0.

All BCC meetings are broadcast live at www.santafecounty.org. To view recorded video of this BCC meeting, go to http://santafecounty.org/video_on_demand/ or check GOV TV Channel 28 listings. Transcripts of the meeting will be available within 10 working days at www.santafecounty.org.