A proposed film studio complex could be a boon for the Albuquerque area, Bernalillo County commissioners said at their meeting Tuesday.
But they also said they want to make sure the project is done right, and that the developers address the concerns of neighbors at the proposed West Mesa site.
Commissioners voted to approve a preliminary resolution that could pave the way for the county to issue $186 million in industrial revenue bonds for the construction project, on behalf of Mesa Film Studios LLC.
Industrial revenue bonds provide tax exemptions for the purchase of land, buildings and equipment. Bondholders are repaid by the revenue the project generates. The government entity takes on no debt, and does not make a loan or lend its credit to the company.
County staff says the studio project would create 48 new full-time jobs over seven years, with an average annual salary of more than $54,000. The complex would include six sound stages, office space, a post-production studio and other features.
The City of Albuquerque and the State of New Mexico have committed a total of $7 million in economic development money to the project and the city plans to lease the land to Mesa Film Studios.
The company is working with the city to secure the necessary zoning changes to move forward. The proposed location is north of Double Eagle II Airport. County commissioners would give final approval of the bonds after the project has gone through the city’s process.
Harry Relkin, representing Mesa Film Studios, said the company sought to make the project collaborative, with the private sector and all three governmental entities invested.
Commissioner Walt Benson said the bonds present an opportunity for the county to ensure the best development.
“This gives us a seat at the table,” Benson said. “If we’re trying to make sure this is done right, this is how we can do it … I’m excited and I look forward to hearing the solutions that you provide for our constituents, our residents and our regional community members as well.”