Albuquerque Journal (Albuquerque, NM)

Bonds May Aid Developers.(New Mexico)

Byline: Tania Soussan Journal Staff Writer

* Different method of financing building projects awaits governor's action

Developers would have a new way to finance streets, parks and other infrastructure for large, new projects under legislation awaiting action by Gov. Gary Johnson.

The Legislature passed a pair of bills in its recently completed session to change the way improvement districts can be used to pay for parks and infrastructure.

The development industry supports the legislation, but planners are worried it could undermine the ability of local governments to control growth.

"It would allow the developer to use the public credit on general obligation bonds to finance improvements," said Lora Lucero, of the New Mexico chapter of the American Planning Association. …

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