After two hours of presentations and debate Tuesday, the Los Alamos County Council unanimously passed an ordinance authorizing the sale of White Rock’s A-19-A-1 to the Site A-19-A-1 Acquisition Group, LLC, a subsidiary of TransCor Development Corporation (TDC).
TDC plans to develop a residential subdivision of approximately 97 single-family residential lots on the tract.
Council raised questions about the sale price of $4,400 an acre, or $150,000 for the entire 34.37-acre tract, and what home prices the group is proposing.
Council also unanimously approved a $1,406,000 water project fund loan/grant agreement with the New Mexico Finance Authority.
The grant is for $843,600, 60 percent of the total amount. The $562,400 loan will be repaid at zero-percent interest with a .25-percent per annum administrative fee on the unpaid principal balance.
The county’s required match is 20 percent of the total award amount, which will be met by approved Capital Improvement Project funding.
The Department of Public Utilities (DPU) will use the money for group 12 tank rehabilitation, non-potable pipelines to connect the existing non-potable system to the group 12 tank and a pump booster station to provide sufficient pressure for the non-potable water system.