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EDC delays award decision on $41,000 BEAR grant application for AMRSI Properties, board asks for artist rendering and process review
Summary
The board discussed a BEAR grant request from AMRSI Properties for a new electronic marquee and agreed to postpone awarding the requested funds so the applicant can provide an artist’s rendering; members also debated whether the three-person BEAR committee should retain approval authority or if the full board should review future applications.
The Santa Fe Economic Development Corporation on March 25 deferred action on a BEAR grant application from AMRSI Properties (13031 Highway 6) after board members asked for an artist’s rendering of the proposed $41,000 sign and raised questions about the program’s review process.
Board members said the proposal — described by staff as a multi-tenant electronic marquee and sign for a strip center — had not included an illustration in the packet. Several members said it is reasonable to request a visual so the board can evaluate what the $41,000 would purchase. Staff offered to obtain a picture from the applicant and distribute it to board members before the next meeting.
Beyond the rendering request, discussion turned to the BEAR program’s approval process. The board said the program was initially delegated to a three-person committee to vet applications and make recommendations, with later ratification by the full board; some members said they had assumed committee approval would be only a recommendation. Others said the committee was empowered to approve and that the board should decide whether to change the guidelines. Members agreed the board should revisit the program checklist and approval threshold to avoid confusion in future reviews.
Outcome: The board moved and seconded a motion to postpone the award decision to the special meeting on March 30 (board used phrasing "30 first"); staff will request an artist rendering and circulate a supplemental packet to board members ahead of that meeting.
Ending: Members noted that if the combined tax revenue from the tenant businesses meets projections, payback to the city could occur within two years; staff said some tax-revenue details cannot be publicly disclosed but affirmed locally projected returns would exceed the grant amount within two years.
