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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, improving trailheads and signage at the Anderson House and Del Norte open space, and offering microgrants or microloans for businesses that need small capital improvements. "Everything in the plan ties back to the 2035 master plan," Schultz said.
Under state law (NMSA 1978 §§5‑10‑1 through 5‑10‑13), a municipality must adopt an ordinance establishing a plan and the local procedures for project participation agreements before it can accept certain LETA funding or enter project agreements. Schultz and staff said the village plan would require each project to be approved by ordinance or specific project participation agreement, ensuring public review at every step.
Supporters at the meeting included Main Street stakeholders; Kale Chapel, a Fourth Street business owner, told trustees he supported the measure as a practical tool to maintain local businesses and community spaces. "I hope everybody will vote yes on this next step to move forward," Chapel said.
Trustees voted unanimously to adopt the ordinance. The next step is a staff‑led final plan that would specify how any revenue (for example, proceeds from a local ballot measure or appropriations) would be allocated across grants, major projects and operations. The ordinance requires the plan to be revisited at least every two years so the program can adapt to village priorities.
What’s next: staff will publish a final draft of the LETA plan for trustee review and public comment; project applications would later come to the board for approval under the adopted ordinance.
