The New Mexico Enabling Act created the Trust. The Trust assets include approximately 9 million acres of surface lands and approximately 13 million acres of mineral lands which are managed by the Commissioner and the State Land Office for certain public beneficiary institutions. Each acre of land is designated for a specific beneficiary institution, or a class of beneficiary institutions, and most the lands are designated for the benefit of the New Mexico public schools. The goals of the Trust are to optimize revenues from the land while protecting the utility of the land for future generations.
311 Old Santa Fe Trail is located on the east side of Old Santa Fe Trail immediately south of Alameda Street and the Santa Fe River, less than 1000 feet from the historic Santa Fe Plaza in downtown Santa Fe. Downtown Santa Fe is dominated by land uses reflecting the two primary income sources for Santa Fe, government and tourism. The State Capitol Building and several state office buildings are located within a couple blocks south of the property. Within the surrounding area, there are numerous hotels, restaurants, and tourist attractions such as galleries, historic churches and museums, with tourist activity centered on the Plaza.
New Mexico Commissioner of Public Lands intends to offer a long-term business lease for the property located at 311 Old Santa Fe Trail in Santa Fe, New Mexico. This Bid Information Sheet (i) describes the principal features of the property and some of the principal terms of the proposed lease, (ii) defines the processes by which interested developers/operators may submit bids on the project, and (iii) explains how the Commissioner of Public Lands will select the winning bidder.
The Commissioner will determine the highest and best bidder in a two-stage process. In the first stage, interested parties will submit a “Statement of Interest” which includes a detailed proposal describing how the property would be used. In the second stage, a public auction will be held where bidders will submit bid packages that include a strategic plan, a financial offer with a project budget/financial pro forma, and a land use/development plan.
In accordance with the Enabling Act, the Commissioner may only offer a long-term lease after public notice and auction. The Enabling Act requires that the notice be published once each week for ten consecutive weeks. Further details on the public notice and auction requirements of the State Land Office for business leases are provided in SLO Rule 9 - Business Leasing (19.2.9 NMAC). Under the Enabling Act, a long-term lease can only be awarded to the “highest and best” bidder. A variety of property uses and lease arrangements can be considered and as such the Commissioner will make an integrated assessment of qualifications, past performance, technical concepts, financial strategies, business plan factors, proposal risk and performance risk in evaluating individual proposals for long-term return to the Trust.
Interested bidders will be invited to submit a bid package (“Bid Package”) in the second stage of the process. During the second stage of the bid process, bidders may be given an opportunity to discuss their Bid Packages and may be requested to provide additional information before final evaluations are completed and the highest and best bidder is announced. The Commissioner reserves the right to select a highest and best bidder without discussion or interviews, or any contact concerning the proposal contained in a Bid Package.
Brochure - 311 Old Santa Fe Trail Property
Please enter your contact information below. Once you have submitted your contact information, you will be emailed a link to the 311 Old Santa Fe Trail Information Package. For more information, please contact James White at 505-827-3810.
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