TODAY'S TOP STORIES: Is Albuquerque overpaying for the Petroleum Club?
The Bernalillo County Commission voted last night to move forward with the purchase of the $42 million Petroleum Club building in downtown Albuquerque. One of the tenants told the Albuquerque Journal today that the building sold five years ago for only $26 million, but County officials said the building had been appraised at $42 million.
With oil and gas prices dropping, the Governor's goals for a special session may be revised, as NMI reports today. "I think it's going to be a much smaller rebate check, significantly smaller," state Sen. John Arthur Smith (D-Deming) tells Kate Nash writes in today's Santa Fe New Mexican. "I strongly suspect GRIP (the highway projects) is out the window, and it wouldn't surprise me if some of the recurring dollar spending is cut," he said. Can't get enough? The Santa Fe Reporter also analyzes the coming session.
The Navajo Nation is also suffering budget woes. Price increases for fuel and insurance have pushed up costs and tribal leaders are considering layoffs. The Gallup Independenthas the full story.
In Farmington, local residents are fighting a gas well proposed for a local park surrounded by homes. The Farmington Daily Times reports that the Planning and Zoning Commission will decide on Thursday whether or not to recommend the well, and two others planned for city property, should go forward.
In Albuquerque today, the city is trying to permanently close Club 7, a downtown dance club it says is a danger to city kids. On Tuesday the fire marshall filed charges against the club, which held 578 people, nearly double its allowed capacity, and city attorneys declared it a public nuisance. "We are going to put any and all pressure to keep them closed for good," City chief Public Safety officer Pete Dinelli told the Albuquerque Journal.
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