Los Ranchos trustees solicit public input on draft economic development plan tied to quarter‑cent tax

The Village of Los Ranchos de Albuquerque hosted a public hearing to review a draft economic development plan and discuss a proposed quarter‑cent local gross receipts tax that would provide a dedicated funding stream for village projects. Mayor (speaker 1) said the Board of Trustees has published an ordinance that would direct staff to develop a plan and that trustees will consider that ordinance at an upcoming meeting later this month. The hearing’s purpose was to present a working draft and gather community feedback before the trustees move the plan toward final adoption.

Grant Taylor (speaker 2), who said he has more than 20 years of economic development experience, described the legal and practical role of the Local Economic Development Act (referred to in the transcript as LETA/LITA). He told residents that passing a LETA/LITA ordinance would allow the village to act as a fiscal agent for state funds, to provide incentives tailored to local needs, and to use a local revenue stream to match state or other grants. “A LETA ordinance allows a community to act as a fiscal agent or a pass through for state resources that may be used as an incentive for economic development projects,” Taylor said.

Shanna (speaker 3), the village planning and zoning director,…