On February 18, Senate Bill 48, which authorizes $92M in bonding for pre-development of the Fairgrounds passed off the House Floor.
The legislation, sponsored by Senator Mimi Stewart and Representative Janelle Anyanonu, previously passed the Senate and is now on its way to the Governor’s desk for signature.
Both Senator Stewart and Representative Anyanonu, along with Governor Lujan Grisham, are members of the State Fairgrounds District Board, which was created during last year’s legislative session, and also includes the Mayor, Albuquerque City Councilor, and Bernalillo County Commissioner from the districts that include the Fairgrounds.
Issuance of $92M dollars was previously vetted and approved by the State Finance Board before going to the Legislature for final approval. These pre-development funds will be used to acquire additional land at the southwest corner of the Fairgrounds, to create a 10-acre park, for pedestrian safety measures along San Pedro, and for critical water drainage and sewer infrastructure.
Note that this first funding is critical for upkeep and enhancement of the property, regardless of future Fairgrounds development.