County to acquire L.A. apartments

County Council decided last night to try to protect their downtown revitalization plan by acquiring the Los Alamos Apartments, which have been in foreclosure since May.

The apartments sit in the middle of Central Avenue, on what is considered a prime piece of downtown property. Council passed the motion to acquire the property 6-0. Councilor Jim West was absent.

As a result of the decision, the county will give Housing and Urban Development $75,000 in earnest money and authorize County Administrator Max Baker to execute the contract for purchase to acquire the buildings.

The council met in a special session last night to discuss this issue and the bond sale that took place on Tuesday.

During last night’s meeting, council met in closed session for about an hour to discuss whether or not to meet HUD’s Oct. 3 deadline for submitting the earnest money and purchase contract.

Had council decided not to proceed with the purchase, the Santa Fe County Civic Housing Authority would have been given the chance to purchase the property. If they passed on the offer, the foreclosure sale would have proceeded, which would have opened the sale up to anyone from anywhere.

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