ALBUQUERQUE, N.M. (AP) - Three city councilors are proposing to dissolve Albuquerque’s open space trust fund.
City Councilors Don Harris, Dan Lewis and Ken Sanchez say the idea would be to use the $11 million in the fund to purchase more open space.
Since 1982, proceeds from city land sales have gone into the fund, with interest going toward open space operation and maintenance. Under current market conditions, the fund generates about $65,000 a year.
And with the price of land and the need to protect more natural areas, the councilors say it would be best to dissolve the fund and use the money to buy more open space.
City officials have identified nearly 13,000 acres they would like to acquire as open space. That land is valued at more than $95 million.
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