Regular Items 10.
Legal Committee
- Meeting Date:
- 02/26/2026
COMMITTEE:
Legal
CONTACT:
C. Josh Nairn-Mahan
CHAIR:
Will Cavin
ACTION REQUESTED:
Resolution 26-XX: consider recommending the adoption of Resolution 26-XX relating to Industrial Revenue bonds. (Yntema)
BACKGROUND:
Initiated by: Hessel Yntema
Gallagher Solar LLC seeks to develop a 2.70-megawatt (AC) community solar energy facility on two parcels of land (4-137-062-172-063-000000; 4-137-062-189-117-000000), also known as “Lots One and Two (1 & 2) of Gallagher Summary Replat,” located at 1612 E 2nd St, Roswell, NM 88201 (the “Property”). The Project was granted a Conditional Use Permit under Zoning Case CUP-25-0046. The Applicant intends to develop all the property with a community solar energy facility. Community solar is a relatively new feature in New Mexico that allows local residents to receive a direct benefit by subscribing to receive credits, which lowers their electricity bills. The 2.70-megawatt system is sufficient to provide credits to approximately 600 homes in Xcel. This facility will produce an electric energy power generation facility under the “Community Solar Act,” for use by the Company, which will constitute an industrial development project. The County has already been contacted and is not opposed to the issuance of this IRB. This resolution is the first step in issuing an IRB.
Gallagher Solar LLC seeks to develop a 2.70-megawatt (AC) community solar energy facility on two parcels of land (4-137-062-172-063-000000; 4-137-062-189-117-000000), also known as “Lots One and Two (1 & 2) of Gallagher Summary Replat,” located at 1612 E 2nd St, Roswell, NM 88201 (the “Property”). The Project was granted a Conditional Use Permit under Zoning Case CUP-25-0046. The Applicant intends to develop all the property with a community solar energy facility. Community solar is a relatively new feature in New Mexico that allows local residents to receive a direct benefit by subscribing to receive credits, which lowers their electricity bills. The 2.70-megawatt system is sufficient to provide credits to approximately 600 homes in Xcel. This facility will produce an electric energy power generation facility under the “Community Solar Act,” for use by the Company, which will constitute an industrial development project. The County has already been contacted and is not opposed to the issuance of this IRB. This resolution is the first step in issuing an IRB.
FINANCIAL CONSIDERATION:
The City will see increased payments over the 15-year life of the project, as well as the schools.;
LEGAL REVIEW:
Legally sufficient.
BOARD AND COMMITTEE ACTION:
Legal Committee will be the first to consider this item.
STAFF RECOMMENDATION:
City management believes that this is a project that will increase revenue for the City both in the short and long term.