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Trustees adopt ordinance to create local economic development plan (LETA) to support Fourth Street, agriculture and culture
Summary
Trustees unanimously adopted Ordinance 304 to authorize a Local Economic Development Act (LETA) plan. Staff said the program would allow the village to apply for state LETA funds to support Fourth Street businesses, agri‑tourism assets and cultural groups through grants, microloans and project participation agreements that the board would approve by ordinance.
The Village of Los Ranchos de Albuquerque on Tuesday adopted an ordinance creating the framework for a Local Economic Development Act (LETA) plan, a step village leaders say will let Los Ranchos apply for state LETA funds to support small businesses, agriculture and cultural organizations.
"LETA is a framework for investing in ourselves," Planning Director Shana Schultz told the board, saying the draft plan is intentionally focused on maintaining village character: supporting Fourth Street businesses,…
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