County’s Economic Vitality Administrator Clarifies Downtown Redevelopment Incentives

Los Alamos County Economic Vitality Administrator Greg Fisher. Courtesy Photo

By Greg Kendall

After reading last week’s Los Alamos Daily Post story, “County’s Economic Vitality Administrator Discusses Trinity Site Lease Transfer,”  Cyndi Wells, owner of Pet Pangea asked:

“So, what are these millions in redevelopment incentives?  Who are they available to?” 

The Los Alamos Daily Post put the questions to Greg Fisher and what follows is his reply.

Businesses that are expanding and adding new jobs and capital investment. They could be new businesses or existing businesses. However, state law does not allow us to provide grants or loans to businesses classified as retail by the New Mexico Tax and Revenue Division. So, those businesses with a retail business license cannot ask for help. However, other categories such as “accomodations” may qualify. Grant/loan size is based on economic impact, typically a combination of new jobs, GRT generated and investment. We will use a standard model known as IMPLAN to measure economic impact and we have an automated tool to help us measure impact correctly. All final awards must be reviewed and approved by Council.

Downtown Mixed Use redevelopment Incentives: $2.1 million over three years.

LEDA and Facade Improvement Grants $1.35 million over three years.

Downtown Conference Facility and Lodging incentive: $1.8 million.

All will be tied to open bids or applications (LEDA and Façade, under $100K) and will be publicized very shortly.

Also included is $2 million for A-19 Infrastructure.

We will publicize and post the forms and instructions and RFQs as available- SOON!!

LOS ALAMOS website support locally by OviNuppi Systems