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The multi-million dollar public works bill the Legislature is poised to approve will provide a much-needed boost to our struggling economy, but despite the merits of this legislation the way in which it is prepared each year can and should be improved.
New Mexico’s method of identifying, vetting, prioritizing and monitoring public works projects is unique. The current capital outlay process recognizes the geographic expanse of New Mexico, ensuring that funds for projects are distributed relatively evenly across the state and respects the fact that priorities and needs across the state are not identical.
But this process also allows projects that have not been thoroughly planned or that are arguably less critical than other projects to receive funding and tie up valuable state resources.
Senate Bill 507 would bring a heightened review and scrutiny to capital outlay funding request by creating a legislative capital outlay review committee and a capital outlay planning and monitoring division in the executive branch.
Only capital outlay requests that are thoroughly planned, adequately justified and “shovel ready” should be considered for funding. We cannot afford to commit precious state funds to projects that require additional lengthy planning or where adequate funding is contingent on acquiring additional local, federal or private funding or projects that are not supported by local leaders. The state must appropriate sufficient funds to finish a project, or at least a tangible phase of it, so our communities are not marked by a series of half-finished projects.
The capital outlay evaluation process must require that local governments have the resources needed to operate and maintain a project after it is completed and that local leaders are committed to doing so. We recognize the difference between projects that are “needed” and those that are simply “wanted”.
The Legislature has made great strides to reform the capital outlay process by working to provide the funds to complete unfinished projects; fully fund new projects; fund those projects that will keep serving New Mexicans long after the money borrowed for the project is paid back; and fund projects that will improve public safety, health, transportation, schools and water systems.
Investments in much “needed” capital outlay projects can spur economic growth by creating construction and construction-related jobs and by providing business owners, investors, executives and managers with the infrastructure they need to grow their businesses.
Good infrastructure is important to the social and economic well-being of New Mexico. We applaud the efforts of the Legislature and the executive branch to work together to ensure that state funded capital outlay projects can make a meaningful impact on our New Mexico communities and for our state’s citizens.
