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	<title>Better Belen &#187; Economy</title>
	<atom:link href="http://www.betterbelen.com/index.php/category/economy/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.betterbelen.com</link>
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		<title>Medina votes against flood map changes</title>
		<link>http://www.betterbelen.com/index.php/2010/08/medina-votes-against-flood-map-changes/</link>
		<comments>http://www.betterbelen.com/index.php/2010/08/medina-votes-against-flood-map-changes/#comments</comments>
		<pubDate>Fri, 20 Aug 2010 03:45:48 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Reform]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14525</guid>
		<description><![CDATA[Valencia County Commissioner David Medina took a stand last night against flood map changes that mean more homeowners throughout the county will be required to buy flood insurance. The issue has been contentious over the past couple of months, as the Valencia County Commission demanded answers from the Federal Emergency Management Agency (FEMA) about why [...]]]></description>
			<content:encoded><![CDATA[<p>Valencia County Commissioner David Medina took a stand last night against flood map changes that mean more homeowners throughout the county will be required to buy flood insurance.</p>
<p>The issue has been contentious over the past couple of months, as the Valencia County Commission demanded answers from the Federal Emergency Management Agency (FEMA) about why the agency is including more Valencia County homes in the designated floodplain this year.</p>
<p>The county commission went so far as to arrange to have FEMA officials out of Texas fly to New Mexico to answer questions about the flood map at a county commission meeting. The issue even caught the attention of United States Rep. Harry Teague, who held a special forum to discuss it with his constituents.</p>
<p>Inclusion of a home in the floodplain means the homeowner will have to buy flood insurance. In many instances, however, mortgage lenders require flood insurance anyway, and sometimes at three times the cost of what the homeowner will pay if included on the flood maps.</p>
<p>High-risk areas in the floodplain pay more than low-risk areas.</p>
<p>Medina said he couldn&#8217;t vote to force residents not paying for flood insurance to start paying for flood insurance.</p>
<p>Commissioner Ron Gentry, who was one of four votes to approve the new flood maps, said the county commission was forced to vote to approve it.</p>
<p>Had the commission not approved the flood maps, it would mean many homeowners would have to continue buying flood insurance anyway, just at a higher rate. That would penalize homeowners already in the floodplain, Gentry said.</p>
<p>Disapproval also could have increased property development costs because new mortgages would have the added amount tacked on, which some commissioners feared would harm growth.</p>
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		<title>City&#8217;s August gross receipts up over projections</title>
		<link>http://www.betterbelen.com/index.php/2010/08/citys-august-gross-receipts-up-over-projections/</link>
		<comments>http://www.betterbelen.com/index.php/2010/08/citys-august-gross-receipts-up-over-projections/#comments</comments>
		<pubDate>Fri, 20 Aug 2010 03:14:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Budget]]></category>
		<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14518</guid>
		<description><![CDATA[The City of Belen will receive more than $468,000 in gross receipts tax revenue in August, up $33,000 over projections. The city needs to receive at least $435,000 each month to afford the bills. The new budget is based an expectation of $435,000 in gross receipts tax revenue each month. The city has also been [...]]]></description>
			<content:encoded><![CDATA[<p>The City of Belen will receive more than $468,000 in gross receipts tax revenue in August, up $33,000 over projections.</p>
<p>The city needs to receive at least $435,000 each month to afford the bills. The new budget is based an expectation of $435,000 in gross receipts tax revenue each month.</p>
<p>The city has also been notified that the New Mexico Department of Finance and Administration (DFA) has given final approval to the city&#8217;s current fiscal year budget.</p>
<p>In its approval letter, DFA cautioned the city that the budget is tight.</p>
<p>&#8220;Your projected cash balance of $3,142 above our 1/12th reserve requirement is extremely low. Despite your diligent efforts in coming within budget, careful monitoring and aggressive revenue collections is recommended to avoid financial problems in the future,&#8221; the letter reads.</p>
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		<title>Our Lady of Belen 217th Fiesta Celebration</title>
		<link>http://www.betterbelen.com/index.php/2010/08/our-lady-of-belen-217th-fiesta-celebration/</link>
		<comments>http://www.betterbelen.com/index.php/2010/08/our-lady-of-belen-217th-fiesta-celebration/#comments</comments>
		<pubDate>Mon, 02 Aug 2010 00:20:38 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14465</guid>
		<description><![CDATA[The Our Lady of Belen 217th Fiesta Celebration is coming on August 13th, 14th, and 15th. They will have free entertainment all weekend that will include Bandalegre from Pecos on Friday evening, Gonzalo and his band on Saturday evening, and New Mexico’s Band of the Year, Cuarenta Y Cinco, from Española on Sunday. First Prize [...]]]></description>
			<content:encoded><![CDATA[<p>The Our Lady of Belen 217th Fiesta Celebration is coming on August 13th, 14th, and 15th.</p>
<p>They will have free entertainment all weekend that will include Bandalegre from Pecos on Friday evening, Gonzalo and his band on Saturday evening, and New Mexico’s Band of the Year, Cuarenta Y Cinco, from Española on Sunday.</p>
<p>First Prize in our annual raffle will be $5000.00, Second Prize will be $2000.00, Third Prize will be $700.00, Fourth Prize will be a recliner.</p>
<p>Promotional Carnival Wrist Bands will cost $15.00 for unlimited rides on Friday night only.</p>
<p>Booth Vendors welcome. Call 864-8043 or 615-5713 for more information.</p>
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		<title>City approves final budget, expresses caution</title>
		<link>http://www.betterbelen.com/index.php/2010/07/city-approves-final-budget-expresses-caution/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/city-approves-final-budget-expresses-caution/#comments</comments>
		<pubDate>Thu, 29 Jul 2010 04:12:20 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Budget]]></category>
		<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14441</guid>
		<description><![CDATA[The Belen City Council approved this fiscal year&#8217;s final budget on Monday night, expressing caution that the budget remains tight because gross receipts tax revenue remains lower than expected. The vote was 3-0. Councilor Wayne Gallegos was absent. The budget anticipates general fund expenditures of more than $4.9 million. It anticipates general fund revenues of [...]]]></description>
			<content:encoded><![CDATA[<p>The Belen City Council approved this fiscal year&#8217;s final budget on Monday night, expressing caution that the budget remains tight because gross receipts tax revenue remains lower than expected.</p>
<p>The vote was 3-0. Councilor Wayne Gallegos was absent.</p>
<p>The budget anticipates general fund expenditures of more than $4.9 million. It anticipates general fund revenues of almost $4.3 million. The difference is made up through transfers from other revenue sources.</p>
<p>The general fund balance at the end of the 2010-2011 fiscal year, assuming gross receipts revenues come in as projected, is just above $3,000.</p>
<p>With the budget so tight, the city is continuing to operate with extreme caution.</p>
<p>While there has been discussion of additional cuts because of weak gross receipts, no decisions have been made.</p>
<p>According to the city&#8217;s finance director, Michael Steininger, the city can look at cutting capital projects, like the roof repair for the municipal court, or budgeted purchases, like needed equipment, before further affecting staff.</p>
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		<title>Water system manufacturer might build in Belen</title>
		<link>http://www.betterbelen.com/index.php/2010/07/water-system-manufacturer-might-build-in-belen/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/water-system-manufacturer-might-build-in-belen/#comments</comments>
		<pubDate>Thu, 22 Jul 2010 23:53:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14405</guid>
		<description><![CDATA[The City of Belen is working with a water system manufacturer to help the company build its manufacturing facility in Belen, creating at least 40 new jobs. Founded in 1997, FastDitch Inc. manufactures open-channel, thermoplastic water flow systems used for things like irrigation, water diversion, storm water control and other uses. The product, called SmartDitch, [...]]]></description>
			<content:encoded><![CDATA[<p>The City of Belen is working with a water system manufacturer to help the company build its manufacturing facility in Belen, creating at least 40 new jobs.</p>
<p>Founded in 1997, <a href="http://www.fastditch.com/" target="_blank">FastDitch Inc.</a> manufactures open-channel, thermoplastic water flow systems used for things like irrigation, water diversion, storm water control and other uses.</p>
<p>The product, called SmartDitch, has been used in places like Acoma Pueblo, New Mexico, and Durango, Colorado.</p>
<p>The company is owned by a family of engineers and farmers from Vallecitos, New Mexico.</p>
<p>Maria Montoya, who works with FastDitch, presented information about the company at Monday night&#8217;s city council meeting, telling the city council she hoped to company can build in Belen.</p>
<p>She said the 30,000-square foot facility might be constructed in the Rio Grande Industrial Park, if the company can get financing.</p>
<p>The purpose of the facility is to begin manufacturing the company&#8217;s next generation of water flow systems, made from 95-percent recycled plastic. She said it would house the Southwest&#8217;s largest injection molding machine.</p>
<p>Montoya estimated initial job creation at 40, from technical to administrative, and estimated the company could be up and running in Belen within a year and a half.</p>
<p>The city is working with the company to streamline planning and construction of the facility.</p>
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		<title>City collaborates on apartment renovation</title>
		<link>http://www.betterbelen.com/index.php/2010/07/city-collaborates-on-apartment-renovation/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/city-collaborates-on-apartment-renovation/#comments</comments>
		<pubDate>Wed, 21 Jul 2010 18:51:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Infrastructure]]></category>
		<category><![CDATA[Police]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14383</guid>
		<description><![CDATA[The City of Belen and YES Housing Inc. announced on Monday night a $1.7-million renovation of La Hacienda Apartments on North Second Street. The city is working in collaboration with the Albuquerque-based nonprofit community development group. The two-story La Hacienda Apartments have been the site of criminal activity and a problem for neighbors. The apartment [...]]]></description>
			<content:encoded><![CDATA[<p>The City of Belen and <a href="http://yeshousing.org/" target="_blank">YES Housing Inc.</a> announced on Monday night a $1.7-million renovation of La Hacienda Apartments on North Second Street.</p>
<p>The city is working in collaboration with the Albuquerque-based nonprofit community development group.</p>
<p>The two-story La Hacienda Apartments have been the site of criminal activity and a problem for neighbors.</p>
<p>The apartment building was foreclosed on by Charter Bank in late 2009, which gave YES Housing the opportunity to begin to negotiate the purchase.</p>
<p>The project will use neighborhood stabilization funds from the federal government&#8217;s American Recovery and Reinvestment Act.</p>
<p>According to YES Housing, the property should be acquired by September and will be under the ownership of YES Housing for at least 20 years.</p>
<p>YES Housing provides a process for tenant screening, selecting tenants with good credit and in good standing at their previous residences.</p>
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		<title>New bridge could put interchange in Belen</title>
		<link>http://www.betterbelen.com/index.php/2010/07/new-bridge-could-put-interchange-in-belen/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/new-bridge-could-put-interchange-in-belen/#comments</comments>
		<pubDate>Tue, 13 Jul 2010 16:37:54 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Infrastructure]]></category>
		<category><![CDATA[Rancho Cielo]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14303</guid>
		<description><![CDATA[A new bridge in the Los Lunas area could actually mean a new interchange for the City of Belen. As the Mid-Region Council of Government continues its Los Lunas corridor study, two primary routes for a new interchange and bridge are being evaluated. Those routes are near Miller Road just north of Los Chavez and [...]]]></description>
			<content:encoded><![CDATA[<p>A new bridge in the Los Lunas area could actually mean a new interchange for the City of Belen.</p>
<p>As the Mid-Region Council of Government continues its Los Lunas corridor study, two primary routes for a new interchange and bridge are being evaluated. Those routes are near Miller Road just north of Los Chavez and Morris Road just south of Los Lunas.</p>
<p>Despite all of the proposed routes being so far north, the interchange options under consideration near Miller Road are actually within Belen city limits.</p>
<div id="attachment_14304" class="wp-caption aligncenter" style="width: 410px"><img src="http://www.betterbelen.com/wp-content/uploads/2010/07/Alignments-and-Municipal-Boundaries-07-06-10.jpg" alt="Los Lunas is in red and Belen is in green." title="Los Lunas is in red and Belen is in green." width="400" height="279" class="size-full wp-image-14304" /><p class="wp-caption-text">Los Lunas is in red and Belen is in green.</p></div>
<p>The study has a long way to go, and it&#8217;s unclear which interchange option will ultimately be recommended for the construction of a new interchange.</p>
<p>A new interchange in Belen, however, could have the benefit of providing opportunities for economic development, boosting gross receipts tax revenue.</p>
<p>Up until this week, it had been unclear exactly how far north Belen&#8217;s city limits go, after the city annexed the area west of Interstate 25 in 2006, because the study hadn&#8217;t clearly shown the various county and municipal jurisdictional boundaries.</p>
<p>Councilor Jerah R. Cordova requested the information to get a better understanding of the effect the issue could have on Belen.</p>
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		<title>Chamber seeks fair parade participants</title>
		<link>http://www.betterbelen.com/index.php/2010/07/chamber-seeks-fair-parade-participants/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/chamber-seeks-fair-parade-participants/#comments</comments>
		<pubDate>Tue, 13 Jul 2010 16:08:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14297</guid>
		<description><![CDATA[The Greater Belen Chamber of Commerce is seeking participants for the Valencia County Fair Parade, which is scheduled for Saturday, August 28. The parade is a great venue to &#8220;celebrate our unique and diverse community and businesses,&#8221; said Rhona Baca Espinoza, the chamber&#8217;s executive director. This year&#8217;s theme is &#8220;The Spirit of the Wild West.&#8221; [...]]]></description>
			<content:encoded><![CDATA[<p>The Greater Belen Chamber of Commerce is seeking participants for the Valencia County Fair Parade, which is scheduled for Saturday, August 28.</p>
<p>The parade is a great venue to &#8220;celebrate our unique and diverse community and businesses,&#8221; said Rhona Baca Espinoza, the chamber&#8217;s executive director.</p>
<p>This year&#8217;s theme is &#8220;The Spirit of the Wild West.&#8221;</p>
<p>For more information call 864-8091.</p>
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		<title>Forum will discuss FEMA flood maps</title>
		<link>http://www.betterbelen.com/index.php/2010/07/forum-will-discuss-fema-flood-maps/</link>
		<comments>http://www.betterbelen.com/index.php/2010/07/forum-will-discuss-fema-flood-maps/#comments</comments>
		<pubDate>Fri, 09 Jul 2010 20:43:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14281</guid>
		<description><![CDATA[United States Rep. Harry Teague will host and moderate a town hall meeting on Sunday to discuss the recently released Federal Emergency Management Administration (FEMA) flood maps and their impact on Valencia County. The town hall starts at 3:30pm at the Los Lunas Transportation Center. In addition to Teague, a panel of floodplain engineers and [...]]]></description>
			<content:encoded><![CDATA[<p>United States Rep. Harry Teague will host and moderate a town hall meeting on Sunday to discuss the recently released Federal Emergency Management Administration (FEMA) flood maps and their impact on Valencia County.</p>
<p>The town hall starts at 3:30pm at the Los Lunas Transportation Center.</p>
<p>In addition to Teague, a panel of floodplain engineers and representatives from FEMA, Valencia County and Los Lunas will be in attendance to discuss issues and answer questions.</p>
<p>Teague organized the meeting to address confusion that has arisen as a result of updated flood maps released by FEMA that may affect insurance rates and requirements for some area residents. The panel will help to answer residents’ concerns.</p>
<p>The county commission has until August 19 to adopt the new flood map and study.</p>
<p>The updated FEMA flood hazard area maps are available in the code enforcement office on the first floor of the county administration building at 444 Luna Avenue in Los Lunas.</p>
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		<title>Belen gross receipts down 9 percent for year</title>
		<link>http://www.betterbelen.com/index.php/2010/06/belen-gross-receipts-down-9-percent-for-year/</link>
		<comments>http://www.betterbelen.com/index.php/2010/06/belen-gross-receipts-down-9-percent-for-year/#comments</comments>
		<pubDate>Wed, 23 Jun 2010 23:31:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.betterbelen.com/?p=14215</guid>
		<description><![CDATA[The City of Belen&#8217;s gross receipts tax revenue ended the current fiscal year down more than $549,000 from projections. While each month&#8217;s gross receipts taxes varied in loss, February was the worst month with a 10-percent loss. The loss in June was also significant &#8212; approximately $100,000 under projections. The total amount received in June [...]]]></description>
			<content:encoded><![CDATA[<p>The City of Belen&#8217;s gross receipts tax revenue ended the current fiscal year down more than $549,000 from projections.</p>
<p>While each month&#8217;s gross receipts taxes varied in loss, February was the worst month with a 10-percent loss.</p>
<p>The loss in June was also significant &#8212; approximately $100,000 under projections. The total amount received in June was $391,000.</p>
<p>The budget for the fiscal year beginning in July, however, is based on gross receipts tax revenue averaged around $435,000 a month.</p>
<p>In other words, should monthly gross receipts tax revenue continue to come in below next year&#8217;s anticipated amount, the city will have substantial operational challenges.</p>
<p>Because of the June&#8217;s loss, on Monday night the Belen City Council approved furloughs for all city employees, including the mayor and city councilors.</p>
<p>The furlough days will be taken one day each month on the month&#8217;s first holiday, days the city government would normally be shut down. That allows for city services to remain mostly unaffected.</p>
<p>Each furlough day is expected to save approximately $11,000.</p>
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