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Council adopts new minimum‑wage ordinance raising base pay to $17.50 and setting annual formula
Summary
Santa Fe’s governing body voted Nov. 12 to raise the city’s base minimum wage from $15 to $17.50 and to adopt a data‑driven annual adjustment formula that blends CPI and HUD fair‑market rent.
Santa Fe’s governing body voted on Nov. 12 to raise the city’s base minimum wage from $15 to $17.50 per hour and to adopt a new annual adjustment formula that ties future increases to a blend of the consumer price index and the U.S. Department of Housing and Urban Development’s Fair Market Rent for Santa Fe.
The proposal — described by staff as a carefully calibrated step to reduce housing‑wage compression — includes a one‑year implementation delay, a 5% annual increase cap and a mechanism for automatic, data‑driven adjustments thereafter. City analysts said the change would directly benefit an estimated 9,000 local workers…
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