LOCAL ECONOMIC DEVELOPMENT ACT

Amendment #2010-03 April 12, 2010

Whereas Economic Development is a necessary component for a growing municipality and

Whereas the creation of additional and higher paying jobs is of high importance to this administration and governing body for the improvement of the quality of life for Ruidoso Downs Citizens and

Whereas additional business in the City helps add to, stabilize, and diversify the City’s revenues and

Whereas the State of New Mexico’s Certified Communities Initiative Program lists six mandatory requirements for qualification including the establishment of an Economic Development Organization, Development of a Community Business Plan, Development of an annual land & business inventory, development of a retention/expansion program, the adoption of a local economic development ordinance (such as this one), and the completion of an annual NM Economic Development Department Community Profile and

Whereas it is vitally important to form a coalition composed of the Ruidoso Downs Chamber of Commerce, the Mayor and Governing Body, City Administration, and private citizens representing the economic and cultural diversity of our great City.

Now, therefore, be it ordained that the governing board of the City of Ruidoso Downs hereby enacts the Local Economic Development Act and by doing so creates the Economic Development Board as described below.

Ordinance shall be codified in the Ruidoso Downs Code of Ordinances under Chapter 2 Boards and Commissions as follows.

Section 2-1-1:

B. Economic Development Board

ARTICLE 4

LOCAL ECONOMIC DEVELOPMENT ACT
2-4-1 General
2-4-2 Appointment
2-4-3 Organization
2-4-4 Duties
2-4-5 Fiscal Responsibilities

2-4-1 GENERAL

The City recognizes that Economic Development is a necessary component for a growing municipality. The creation of additional and higher paying jobs is of high importance to this administration and governing body for the improvement of the quality of life for Ruidoso Downs Citizens. Additional business in the City helps add to, stabilize, and diversify the City’s revenues. In consideration of the abovementioned facts, the City of Ruidoso Downs shall form an Economic Development Board (EDB). In forming this board, it is vitally important to form a coalition composed of the Ruidoso Downs Chamber of Commerce, the City Government, and private citizens representing the economic and cultural diversity of our great City.

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2-4-2 APPOINTMENT

The Economic Development Board shall consist of seven (7) board members, all of whom shall have voting authority. A quorum shall consist of four (4) voting members.

The Mayor with Council confirmation shall appoint members from the citizens of Ruidoso Downs. These confirmed appointments shall serve a term of two (2) years, with any subsequent renewals for additional two-tear terms to coincide with the City Council Organizational Meeting held following each City Municipal Election. The Mayor shall also fill vacancies with City Council confirmation as they arise from time to time.

Ordinance 2010-03 shall become effective five days after publication as provided by law.

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2-4-3 ORGANIZATION

Every two years, on the first board meeting following the City Council, the Economic Development Board shall have an organizational meeting to elect officers. These officers shall consist of a Chairperson and a Vice-Chairperson. The chairperson shall be the point person for the board and shall provide the contact for all state agencies, and will report on a quarterly basis to the City Council during regularly scheduled City Council meetings. The Vice-Chairperson, shall serve in this capacity if the Chairperson is unavailable.

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2-4-4 DUTIES

A. The EDB shall be the sole and official economic development organization charged with the representation of the City of Ruidoso Downs on all economic development efforts and is hereby designated to meet and negotiate with prospects. This board shall make any necessary recommendations to the planning and zoning board and or City Council.
B. Every two years the EDB shall Develop and Draft a two-year community business plan that will establish goals to attract capital investment and business relocation, while supporting existing businesses and improving the community’s quality of life. The plan must include an analysis of the communities strengths, weaknesses, threats, and opportunities, specify targeted industries, specify resources for resource development, and identify any possible incentives to offer prospective businesses.
C. The EDB shall develop and publish of an annual land & business inventory available to prospects.
D. The EDB shall develop a business retention/expansion program.
E. The EDB shall complete an annual NM Economic Development Department Community Profile for submission to the state.
F. The EDB shall present a semiannual report to the council on quarterly completed board activities.

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2-4-5 FISCAL RESPONSIBILITIES

The City shall act as the fiscal agent for all normal and customary office-related supplies, personnel, and grants that the board may need or receive, provided it is used for the benefit of the City. In addition, a line item in the General Fund shall be established under the heading of “Economic Development” and such expenditures and revenues shall be budgeted by the City Administrator and approved by the City council prior to expenditure of funds. The City Administration shall provide secretarial services to transcribe, print, and distribute minutes associated with board meetings.

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