Santa Fe will have task force to explore public bank idea - Albuquerque Journal

Santa Fe will have task force to explore public bank idea

SANTA FE — The city of Santa Fe is forming a task force to further explore the idea of creating a public bank.

On Wednesday, the City Council unanimously approved a resolution that would create a nine-member task force appointed by the mayor and approved by the governing body within the next 60 days. The panel will report back to the council after six months with its findings so the council can “make an informed decision about submitting an application for a New Mexico Bank Charter for a Public Bank of Santa Fe.”

The task force will be up of the city’s financial director and appointed members with experience in banking finance, regulation, law, as well as two at large members. They will be asked to look into what legal steps are necessary to establish a public bank, recommend a governance structure to the council, and draft a five-year business plan.

The resolution, introduced by City Councilor Renee Villarreal, also calls for at least two public hearings to obtain community input.

The city of Santa Fe has been exploring the idea of creating a public bank since 2014 when Mayor Javier Gonzales, then in his first year in office, held a day-long symposium on the concept. That led to a feasibility study that determined the city has the potential “to provide enhanced fiscal management, improved net interest rate margins, and a more robust local lending climate.”

Home » Journal North » Journal North Recent News » Santa Fe will have task force to explore public bank idea


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
'Cleaning Lady' set to return on Sept. 19; filming ...
ABQnews Seeker
On Sept. 19, 'The Cleaning Lady' ... On Sept. 19, 'The Cleaning Lady' returns to TV for its second season. For nearly two months, crews have been on the ground in ...
2
New colonel takes command of 58th Special Operations Wing
ABQnews Seeker
Commander is a helicopter and drone ... Commander is a helicopter and drone pilot
3
Lights, camera, Rio Rancho! Production company opens film ...
ABQnews Seeker
Studio space is in demand in ... Studio space is in demand in New Mexico. That's exactly the reason Edit House Productions decided to expand to its own film studio. It ...
4
You can’t sell what you don’t own, in life ...
ABQnews Seeker
When I was 4 years old, ... When I was 4 years old, I loved stuffed animals. I had spent three or four weeks in a hospital and what helped me ...
5
Company brings fast internet to reservation
ABQnews Seeker
Tribal and school officials are working ... Tribal and school officials are working with a local company to provide internet to everyone
6
New colonel takes command of 58th Special Operations Wing
ABQnews Seeker
Commander is a helicopter and drone ... Commander is a helicopter and drone pilot
7
Report: Ruidoso fire caused by power lines
ABQnews Seeker
McBride Fire has spawned lawsuits McBride Fire has spawned lawsuits
8
Cyclists ask for more cleanups, pedestrians request a heads-up
ABQnews Seeker
Readers who get around on two ... Readers who get around on two wheels are asking for help with glass, mud and more
9
Personal dispute leads to shooting in ABQ
ABQnews Seeker
Arrest warrant issued for woman in ... Arrest warrant issued for woman in shooting that left one dead, two injured