Wednesday’s Sandoval County Commission meeting will have a distinctive economic development theme.
Commissioners will consider approval of up to $125 million in bonds to attract a new manufacturing plant and hear an update from the Sandoval Economic Alliance (SEA).
Castelion Corporation is considering Rio Rancho for a hypersonic rocket manufacturing and testing site that would employ hundreds.
According to earlier Sandoval Signpost reports, the plant could have 1,000 workers by 2035.
The commission is being asked to issue industrial revenue bonds, which provide some tax breaks to offset the startup costs of the project. As developer, Castelion Corp. would take on the debt and pay off the bonds with revenue generated by the project.
Sandoval County is not pledging any taxpayer money toward the project and the company will make payments in lieu of taxes to the county.
SEA will present its annual report to the commission; later in the meeting, the board will weigh a bid by the organization for a professional services agreement. SEA would be paid $250,000 for employer development and economic development services. The item represents the third renewal of an agreement signed in 2022.
Commissioners are also being asked to renew two items codifying a working relationship between the Navajo Nation Division of Transportation and Sandoval County Public Works. The memorandum of understanding and intergovernmental agreement would cover the maintenance and construction of roads within their shared jurisdiction.
Other items on the agenda include acceptance of a pair of grants totaling $427,908 from the U.S. Department of Housing and Urban Development, creation of a payroll accountant position in the finance department and a proclamation designating August as Black Business Month.
HOW TO PARTICIPATE:
WHEN: 6 p.m. Aug. 27
WHERE: Commission chambers, Sandoval County Administrative Building, 1500 Idalia Road, Building D, Bernalillo
Virtual: www.sandovalcountynm.gov