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Surprise and disappointment not a way to develop land

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By The Staff

It was not surprising that Los Alamos County Council decided this week to discontinue their exclusive arrangement with the Boyer Company of Salt Lake City for the development of a retail center at Trinity Place.

What was surprising is how little we still know about why the arrangement failed.

In its determination at long last to move forward, the council swept many pieces of the puzzle off the table.

The Trinity Site Redevelopment Project is clearly the most complicated of a number of projects the Los Alamos County government has adopted in the flush of a windfall of new tax revenues from a change of status of Los Alamos National Laboratory in 2006. In 2007, the county passed ordinance 529, with advertising help from Boyer Co., to issue gross receipts tax improvement revenue bonds for up to $75 million, with $50 million for the Trinity Site project.

We know the macroeconomics of the ensuing debacle, the recessionary sandbag that came down on capital projects everywhere. But, as the councilors pointed out, that was after more than two years of dilatory negotiations and another year in which the company seemed to downplay the credit crunch problem.


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