Wednesday, June 11, 2008

Santa Fe Studios Moves Forward

From the Santa Fe New Mexican...

County, studio owners reach deal

Santa Fe County finalized its deal with Santa Fe Studios on Tuesday to collaborate on a film studio project that will be built near the Penitentiary of New Mexico.

The proposed project — a four-stage film production studio and auxiliary buildings — has qualified as an official economic-development project eligible for incentives from the county and the state.

Under the terms of an agreement approved Tuesday, the county will furnish the project with 16 to 25 acre-feet of water, pay to bring broadband service to the site, make traffic control improvements on N.M. 14, and pay for water and sewer infrastructure upgrades on the property.

Santa Fe Studios has pledged to purchase the 65-acre site from the county for $2.62 million, provide 500,000 to 800,000 hours worth of employment that pays more than the city of Santa Fe's minimum wage and participate in work force training programs. The production company is also obligated to start construction within three years.

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