Commercial Leasing
Land Leasing
The Commercial Resources Division currently administers about 1,000 business leases for a wide variety of commercial uses, salt water disposal and natural gas storage units. The Division collects revenues from leases on more than 471 acres of state trust land and generated more than $3.3 million for trust beneficiaries in fiscal year 2011..
Land Exchange
The Commissioner enters into exchanges initiated by other governmental entities and/or private parties when the exchange offers financial and other benefits to the trust and beneficiaries. Exchanges also may be initiated by the Commissioner. Often the exchange partners are themselves beneficiaries, such as the University of New Mexico.
Land Sale
The Commissioner places a priority on holding and not selling land assets that are legacies for present and future generations, including those lands acquired through exchanges. There are some instances where sale of trust lands can be in the best interests of the trust.
Commercial Development
As urbanization encroaches ever closer to state trust lands and grazing and mining move away from growing communities, vacated trust lands often are damaged by trespassers and the illegal dumping of trash. When this occurs, the land has new potential for residential, commercial or industrial development.
Through his assistant commissioner for Surface Resources Management, the Commissioner provides the staff with guidance in identifying trust lands ideally suited for development, and involves the private sector to develop neighborhoods and communities. Such projects often take years to plan and will develop slowly relative to real estate market conditions.
Some of our current developments are located in the communities of Edgewood, Las Cruces, Mesa del Sol, Silver City, and Las Leyendas.