MORE MONEY FOR OPEN SPACE … AND MORE OPPORTUNITY FOR THE CITY TO BUY IT. THAT’S THE GIST OF A BILL EXPECTED TO BE INTRODUCED MONDAY NIGHT BEFORE THE ALBUQUERQUE CITY COUNCIL. OUR MEDIA PARTNER KOB TV REPORTS THREE COUNCILORS SAY THE CURRENT OPEN SPACE TRUST FUND IS WORTH 11 MILLION DOLLARS BUT ONLY GENERATES ABOUT 65 THOUSAND DOLLARS A YEAR IN INTEREST.
THE COUNCIL WANTS TO DISSOLVE THE TRUST FUND AND MOVE THE MONEY TO A CAPITAL ACQUISITION FUND THAT WOULD ALLOW THE CITY TO USE THE PROCEEDS TO BUY MORE LAND FOR OPEN SPACE.
