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Council finalizes LETA closeout for X2NSat, releases $150,000 guarantee
Las Cruces City Council · April 16, 2024
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Summary
Las Cruces approved ordinance 3066 to close out a Local Economic Development Act project with X2NSat and release a $150,000 city guarantee; staff said the city recovered its investment and the state contributed $300,000 to the project.
The Las Cruces City Council unanimously approved ordinance 3066 on April 15 to close out a Local Economic Development Act (LEDA) project for satellite-communications firm X2NSat and release a $150,000 city guarantee that had served as security for the project.
Elizabeth Teeters, speaking for city economic-development staff, summarized…
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