Legal Notices-Government

CITY OF SOCORRO
ORDINANCE No. 21-06-07
AN ORDINANCE RELATING TO AN ECONOMIC DEVELOPMENT PROJECT

WHEREAS Capitol Bar, LLC (DBA Capitol Bar & Brewery) has chosen to make capital investments by expanding and occupying their facility operations at 110 Plaza in the City of Socorro as a result of incentives provided by the New Mexico Economic Development Department; and

WHEREAS Capitol Bar & Brewery will create six (6) new jobs in Socorro as a result of its expansion; and
WHEREAS the expansion of their facility operations by the Capitol Bar & Brewery will create additional jobs in Socorro;

NOW, THEREFORE, IT IS ORDAINED BY THE CITY COUNCIL OF SOCORRO, NEW MEXICO, as follows.

In order to promote economic development through the expansion of the Capitol Bar & Brewery, thereby causing the creation of six (6) new direct jobs, as well as additional construction and temporary jobs, the City of Socorro agrees to accept from the New Mexico Economic Development Department and distribute to Capitol Bar & Brewery in the manner prescribed in the intergovernmental agreement between the New Mexico Economic Development Department and the City of Socorro and the project participation agreement between the City of Socorro and the Capitol Bar & Brewery and subject to all the limitation and restrictions in Article IX, Section 14 of the Constitution of the State of New Mexico and the Local Economic Development Act, NMSA 1978, § 5-10-1, et seq., fifty thousand dollars ($50,000.00) for the purpose of the expansion and occupation of Capitol Bar & Brewery’s facility operations at 110 Plaza in the City of Socorro.

This ordinance shall be recorded and authenticated by the City Clerk following adoption at a public hearing by the City Council at its June 7, 2021 City Council Meeting. The effective date of this ordinance shall be thirty days after the ordinance has been recorded.

Leopoldo Pineda
City Clerk