BoomGov - Council agenda 1-28-25
Council to consider clean-energy program, tax rebates for low-income residents, and library policy updates
The Los Alamos County Council will hold its regular session on Tuesday, Jan. 28, 2025, at 6 p.m. at the Council Chambers (1000 Central Ave). If you can’t make it in person, join via Zoom.
Agenda overview:
Public comment is available at the start of the meeting for non-agenda items. Submit e-comments before 11:45 a.m. on meeting day or email CountyCouncil@lacnm.us.
Presentations:
The Government Finance Officers Association (GFOA) awarded Los Alamos County its Triple Crown Honor for excellence in budget preparation and financial reporting.
The consent agenda includes:
$350,000 funding for North Central Regional Transit District
$2.67M for a wastewater treatment plant belt press replacement
Multiple contracts and agreements for water production and cybersecurity
$442,640 for additional funding for IPRA support
Public hearings:
Personal income tax rebate for eligible low-income property taxpayers
Resolution for local DWI grant participation
Business items:
Library policy revisions (first update since 2019)
FY2024 Annual Comprehensive Financial Report
Click here for the full agenda packet.
More details:
C-PACE program introduction: Council will see an introduction of an ordinance to establish a Commercial Property Assessed Clean Energy (C-PACE) program. This would allow commercial property owners to access long-term financing for energy efficiency, renewable energy, and water conservation improvements. The program is already active in Bernalillo, Santa Fe, and Taos counties. After Tuesday’s introduction, a public hearing is proposed for February 25.
Low-income tax rebate: Council will consider extending its property tax relief program for low-income residents through 2028. The program provides rebates of 35-75% on property taxes for eligible homeowners making under $24,000 annually, with a maximum benefit of $350 per year. To qualify, you must be a county resident, live in your home as a primary residence, and spend at least 6 months of the year in New Mexico.
Adopted in 2001, the program reduces tax burdens for qualifying residents while requiring the County to reimburse the state for rebates issued. The current ordinance expires after 2024, and continuing the program is expected to have a similar fiscal impact as in prior years — a reduction in revenue to the County of $11,393 for FY2024 and $9,600 for FY2023.
Financial report: “The County has significant economic dependence upon Los Alamos National Laboratory (LANL),” the comprehensive financial report states. “It is the County’s largest employer, and it is estimated that LANL’s expenditures provide, either directly or indirectly, over 90% of the County’s economic activity.” In FY2024, an estimated 75-80% of gross receipts tax (GRT) revenues for Los Alamos County were related directly to LANL operations.
This economic dominance helped secure a credit rating upgrade from Moody’s in September 2024, with the County's rating moving from Aa3 to Aa2. The upgrade cited increased LANL activity as driving strong revenue growth.
The financial report warns of risk in such heavy dependence on a single institution, but points to several factors that mitigate this risk, including LANL’s stable federal funding and the Lab’s expanding mission.
The County’s net position increased by $120.9 million to $633.5 million, largely due to a settlement agreement with Uniper Global Commodities North America to resolve a dispute over the County's electric utility operations. The County also received $7 million in state capital outlay funding for the Jemez Mountain Fire Protection Project, with additional federal and state funding expected in 2025.
(To read the full financial report, click here, and then click on Attachment B.)
Mark your calendars and stay informed!