Title
Introduction of Incorporated County Of Los Alamos Ordinance No. 761 An Ordinance Adopting A Local Economic Development Project For Public Support Of 1735 Central Investment LLC, A Domestic Limited Liability Company And Qualified To Conduct Business In The State Of New Mexico
Recommended Action
I introduce, without prejudice, Incorporated County of Los Alamos Ordinance No. 761; An Ordinance Adopting A Local Economic Development Project For Public Support Of 1735 Central Investment LLC, A Domestic Limited Liability Company And Qualified To Conduct Business In The State Of New Mexico, and ask staff to assure that it is published as provided in the County Charter.
County Manager's Recommendation
The County Manager recommends that Council introduce this Ordinance.
Body
The 1735 Central Investment Redevelopment Project is a proposed $18 million redevelopment of the former CB Fox Building at 1735 Central Avenue. Central Investments is a partnership comprised of local resident Phil Gursky, commercial realtor Jyl De Haven, property owner Matt Miles, and Chicago-based Steve Miszkowicz and Josh Silverman. An initial LEDA application was submitted on December 31, 2025, and a participation agreement was subsequently drafted collaboratively by Central Investments and Los Alamos County.
The project would create small retail spaces, a commercial kitchen and food court, and a 20-room boutique hotel with a rooftop bar. The market-rate development would primarily use electricity and pursue C-PACE financing for energy-efficiency improvements, while retaining natural gas for the commercial kitchen.
Central Investment is requesting $6 million from the County’s Economic Development Fund: a $4 million grant and a $2 million, ten-year, zero-interest loan, with repayment beginning in year four.
Over the ten-year agreement, the project is estimated to generate more than $4.4 million in construction and operational gross receipts and lodgers’ tax revenues and create 25 full-ti...
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