- Associated Press - Sunday, October 12, 2014

LAS CRUCES, N.M. (AP) - New Mexico State University’s newly formed nonprofit corporation is taking shape.

The Board of Regents on Friday adopted bylaws for Aggie Development Corp.

The tax-exempt firm was created earlier this year to help the university better manage and develop its land, property and water assets. Among its tasks, the firm will work on creating new public-private partnerships to benefit the university and community.

All of the corporation’s net revenue will be contributed to the university.

A seven-person board oversees the corporation. Members include NMSU President Garrey Carruthers and Regents Mike Cheney and Kari Mitchell.

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