The University of New Mexico’s Board of Regents members serve on the board of a nonprofit called the Lobo Development Corporation, which reports back to those very same regents who vote on the plans made by themselves, Duke City Fix blogger Johnny Mango reports today. Mango points out some interesting things about the LDC that may cause some eyebrows to rise. For instance, its meetings aren’t bound by the open meetings rules or the government procurement code, and its mission is to be financially profitable.
• The LDC is apparently not bound by the open meetings statute. Their minutes reflect going into “Executive Session” to hear a presentation on “concerns” about the American Campus Communities contract as well as to vote on issues.
• The LDC may procure goods and services exempt from the Procurement Code.
• Though the LDC must conform to the University’s long range plans, it is to operate in the manner most advantageous financially to the Lobo Development Corp.
Mango points out that the Regents will vote May 11th on a long-term contract developed by the Lobo Development Corporation (which is composed of those same Regents) for a major on-campus housing project, that includes a 65 year land lease with American Campus Communities (ACC) of Austin, Texas.
The housing project doesn’t fit into a long-range plan developed by the UNM larger community, Mango says, which is shown in a lack of vision for the project, especially the first phase of housing for 864 students to be located west of The Pit. And its particularly concerning since the planning was done in the dark by the Regents wearing their LDC hats.
Read the entire Mango piece here.