The New Mexico Senate committee convened on March 11, 2025, to discuss significant redevelopment plans for the state fairgrounds, focusing on enhancing community benefits and affordable housing access. Roger Valdez from the Center for Housing Economics emphasized the importance of the redevelopment project, highlighting its potential to revitalize the neighborhood and improve housing conditions. He noted that the community has long awaited such initiatives.

Marcos Gonzales, executive development officer for Bernalillo County, expressed support for the redevelopment, indicating that the county is eager to see the area revitalized. The discussions included a proposal for a state fairgrounds district, which aims to facilitate the redevelopment process.

Terry Cole, president and CEO of the Greater Albuquerque Chamber of Commerce, also voiced support for the initiative, referencing the historical context of the fairgrounds and the need for a modern approach to its development. He called for a comprehensive study to determine the best future for the fairgrounds.

However, concerns were raised regarding the proposed exemption of the redevelopment board from the procurement code, which some committee members found troubling. They questioned the potential for fraud and lack of oversight, especially with significant revenue bonds at stake. The committee discussed the safeguards in place, including a requirement for detailed plans and approvals from various state authorities before any bonds could be issued.

The meeting underscored the balance between fostering economic development and ensuring accountability in the management of public funds. The committee is expected to continue reviewing the proposal, with a focus on ensuring that the redevelopment aligns with community needs and maintains proper oversight.