The White Rock MRA Resolution passed at Tuesday’s Council meeting.
This doesn’t mean anything upfront to businesses or property owners located within the designated boundaries, but it does now open up the possibility for Council to pursue more strategic public-private partnership projects that will help spur economic development in the area.
The next steps will be for Council to issue an RFP for a contractor to develop an MRA Plan (with input from the Downtown Master Plans being developed by Dekker/Perich/Sabatini), the cost of which is fully reimbursable through the New Mexico Finance Authority.
The Plan development requires a transparent process with public input. Once the MRA Plan is finalized, Council can then choose to strategically pursue individual projects on a case-by-case basis for White Rock, and any commitment of public funds have the same clawback provisions as other private-public partnership initiatives (such as those outlined in the Local Economic Development Act – LEDA) to ensure the projects are fulfilled to expectation.
Find a copy of the MRA Designation Report here.
For more information, visit https://www.