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Commissioners probe project finance, jobs and decommissioning bond for Rancho Viejo
Summary
Santa Fe County commissioners pressed AES and county staff on project costs, job estimates, possible Industrial Revenue Bond tax exemptions, and decommissioning financial assurances for the proposed Rancho Viejo project.
Santa Fe County commissioners used the continuation hearing to press AES and county staff about project economics, job promises, and measures to ensure long‑term site cleanup if the project proceeds and ownership changes.
Why this matters: The questions address how the county and nearby communities will benefit economically, how much tax revenue might be affected if the developer seeks Industrial Revenue Bond (IRB) tax treatment, and how the county will ensure decommissioning funds or bonds are available at the end of life or if ownership changes.
Key details from the hearing
- Estimated project cost and IRB discussion: AES told commissioners the project’s capital cost is estimated in the range of $200 million to $250 million. The applicant said an IRB application (if pursued) requires a public submission of capital costs; AES cautioned that publishing detailed commercial revenue figures can reveal competitive bids but said it would…
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