Las Cruces outlines $11.5M first-year GRT revenue and $20M biennial bond receipts; council to refine project priorities after public engagement

City staff presented a framework for spending a recently approved increase in the city’s gross receipts tax at the Aug. 25 Las Cruces City Council work session, describing first-year revenue assumptions, bond proceeds, and candidate projects for streets, parks, public facilities and public safety.

Cynthia Lamillo, the city’s CIP manager, said the presentation was intended to “begin the conversation about identifying priorities” and to show how multiple funding sources would be leveraged to address capital and maintenance needs. Finance Director Leslie Doyle summarized the financial assumptions: “In year 1, we will collect 11,500,000.0 in GRT. We will receive $20,000,000 in bonds,” and staff said they assumed a 3% annual growth rate in GRT collections for planning.

Doyle and staff explained the debt service and spend rules. They said the city expects an $8.8 million annual debt service requirement; the difference between GRT collections and debt service is intended for facility maintenance. Staff noted bond proceeds are subject to spending and investment rules tied to federal…