It's bankruptcy. The company
the not-too-surprising decision this morning.
The
makes more sense than the press release:
Keep watching SFR for more coverage of this story.
Update 4:50 p.m.-ish
: Here's a quote form tomorrow's New Mexican, in the form of a press release from the city.
Errmm... Official reassurances after the cut.
The City's Economic and Community Development staff have been working hard to get in front of the economic and home foreclosure crisis in many ways. Here are some of the projects that the City of Santa Fe is working on to ensure Santa Fe not only survives the economic recession, but that the city is positioned to come back stronger than when the nation entered into the crisis:
Ø Stimulus Money and Job Creation – The City of Santa Fe has already been identified to receive $781,600 in federal economic stimulus money for energy and conservation projects as well as $1.1 million for the Santa Fe Airport. Stimulus money has been or will be requested for other projects including water, transit and affordable housing as well as roadway infrastructure improvements. Staff is working to identify other stimulus funds which can help spur economic activity and job creation in Santa Fe.
Ø Business Retention and Expansion Program – Economic Development staff are developing a program to help Santa Fe businesses access resources for retention and growth; this includes, financing and technical assistance.
Ø “Santa Fe: Buy Into It” – This awareness campaign is a collaborative effort with local business groups and local media. It is designed to provide support for the local economy by re-circulating dollars and taking advantage of the multiplier effect. www.buyintoit.org
Ø Workforce Housing – The City's Office of Affordable Housing works proactively with the public, non-profit, and private sectors so low and moderate-income citizens have access to housing. Through capacity building, technical assistance, and regulatory mechanisms, the City of Santa Fe has built a network of strong cooperation and assistance in the community. These partnerships include the Homewise “Santa Fe Business Campaign for Homeownership,” in which Homewise works with local business owners to provide affordable housing for their employees, and a $600,000 Home Energy Efficiency Loan Program, which not only increases the value of homes and saves homeowners money over time, but also creates work for the Santa Fe's green collar workforce.
Ø Talent Task Force – A committee working to find solutions and facilitate better access to work opportunities for skilled people in Santa Fe.