Council to take up public aid for a 400 Trinity Drive hotel
Ordinance 763, on Tuesday's work session agenda, would give a developer a $2 million grant and a $1 million zero-interest loan.
The Los Alamos County Council meets Tuesday, Oct. 20, at 6 p.m. at White Rock Fire Station 3, 129 State Road 4, according to the final agenda. The agenda lists the introduction of Ordinance No. 763, which would approve public support for a guest house hotel at 400 Trinity Drive.
The developer, Grand Mesa Partners 400 Trinity Drive Hilltop Owners LLC, proposes to renovate and build a hotel focused on lodging for Los Alamos National Laboratory managers and the Lab, the ordinance says. It asked for a $2 million cash grant that is not repaid and a $1 million, 10-year loan at zero percent interest under the state Local Economic Development Act.
The ordinance also lists $1,025,000 under the state Metropolitan Redevelopment Code for facade work, two added balconies, signage and a downtown gateway feature, furnishings, and landscaping and site work.
A county public benefit evaluation in the meeting packet puts the project cost at $30 million, with public funding at 12.9 percent. It says the developer committed to at least four full-time-equivalent jobs paying $235,750 a year in total, and estimates that each $1 of public cost returns about $1.78 in public revenue over 12 years.
The agenda lists the ordinance for introduction; adoption is not on this agenda. The council is also scheduled to hear from the Environmental Sustainability Board, get briefings on the MainStreet and Creative District program and on Social Services data, review two of its strategic focus areas, and consider the minutes of its Sept. 29 and Oct. 6 meetings.
The meeting is open in person and on Zoom. The county events calendar says it will also be posted for video on demand.