Regular Items 16.
Legal Committee
- Meeting Date:
- 05/28/2026
COMMITTEE:
Legal
CONTACT:
C. Josh Nairn-Mahan
CHAIR:
Will Cavin
ACTION REQUESTED:
Consider recommending approval to advertise for a public hearing for Ordinance 26-XX: An Ordinance authorizing the issuance of Industrial Revenue bonds, and Execution Bond Purchase Agreement, of Identure, Lease, and Sublease. (Cavin)
BACKGROUND:
Initiated by: Hessel Yntema IV
Gallagher Solar LLC seeks to develop a 2.70-megawatt (AC) community solar energy facility on two parces of land (4-137-062-173-063-000000; 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 feather 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 constite an industrial development project. The County has already been contacted and is not opposed to the issuance of this IRB.
The Governing Body approved of the IRB's inducement resolution in March 2026.
Gallagher Solar LLC seeks to develop a 2.70-megawatt (AC) community solar energy facility on two parces of land (4-137-062-173-063-000000; 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 feather 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 constite an industrial development project. The County has already been contacted and is not opposed to the issuance of this IRB.
The Governing Body approved of the IRB's inducement resolution in March 2026.
FINANCIAL CONSIDERATION:
See Fiscal Impact below.
The City will see increased payments over the 15-year life of the project, as well as the schools.
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:
The Legal Committee was the first to consider this item. The Legal Committee recommended approval 5-0 at its meeting on February 26, 2026.
STAFF RECOMMENDATION:
City management believes that this is a project that will increase revenue for the City both in the short and long term.