Santa Fe City Council has unanimously approved a $450 million mixed-use development that could double the city's population over the next decade. The plan includes the creation of a municipal utility district to support growth.
On Thursday, Santa Fe's city council decided unanimously to authorize the establishment of a municipal utility district (MUD) to support a mixed-use development project costing $450 million. This ambitious scheme seeks to sustain the population increase of the city, maybe tripling it within the next ten years. Designed to draw in fresh inhabitants and businesses, the development will comprise a range of residential, commercial, and leisure areas.
A vital phase of the development process, the MUD approval provides the infrastructure required to maintain the anticipated increase. Officials think the initiative will change the environment and improve the attractiveness of the city while providing long-term financial gains. The city's officials underlined that the development will provide employment possibilities, enhance local facilities, and generate tax income, so benefiting Santa Fe in the years to come.
Although the construction could significantly raise the population of the city, officials also emphasized their dedication to responsible development so that the infrastructure could serve the enlarged population. Completing the project should take several years; gradual development is scheduled over the next ten years.
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