For a data center seeking LEDA funds as a non-retail service provider, more than 50% of its revenue must come from clients outside New Mexico; the company must also own or lease a New Mexico facility and remain in good standing with state entities. Company eligibility requirements

A project must make significant investment in permanent capital infrastructure, constitute an expansion or relocation, create permanent full-time direct jobs, and be sufficiently funded and ready to proceed. Project eligibility requirements

Any LEDA-funded project must provide security equal to the amount of the LEDA public investment, such as a letter of credit, surety bond, mortgage, lien, security interest, or UCC filing. Security requirement

LEDA funds are available only on a reimbursement basis after the company incurs eligible expenses and satisfies the performance benchmarks in the project participation agreement. Reimbursement requirement

LEDA funding is limited to eligible costs, including land, buildings, infrastructure, and public works improvements essential to the company’s location or expansion. Reimbursable-cost limitation

Before a LEDA project can proceed, the local fiscal agent must hold a public hearing and adopt an ordinance containing the project participation agreement and intergovernmental agreement. Public-process requirement

The project participation agreement must impose job-creation requirements, public-investment distribution milestones, and clawback requirements. PPA requirements

The fiscal agent must obtain prior Economic Development Department approval for every disbursement or reimbursement and keep project funds in a separate account. Disbursement controls

LEDA projects must submit quarterly job reports and annual economic-impact data for the duration of the project. Reporting requirements

A LEDA funding decision is discretionary and subject to a formal application, additional due diligence, and local approval; the initial provisional offer does not guarantee funding. Conditional LEDA offer

LEDA funds may be provided to a local government to assist an eligible company that is expanding or relocating in New Mexico, including the Greater Kudu data-center expansion. assist expanding or relocating companies

LEDA funding may reimburse land, buildings, infrastructure, and essential public-works improvements, which can support construction or expansion of a data center. Eligible costs may include

The approved Greater Kudu measure provides public support for expanding the existing data center using certain local gross-receipts-tax revenues generated by project construction. from certain local gross receipts tax revenues generated by construction of the Project

LEDA investments are paid on a reimbursable basis after the company incurs eligible expenses and meets the performance benchmarks in its project participation agreement. strictly reimbursable basis

The local government acts as the fiscal agent, receiving LEDA funds and disbursing or reimbursing the company after Economic Development Department approval; funds must be kept in a separate account. acts as the fiscal agent

A qualifying company may receive LEDA consideration if it manufactures in New Mexico or provides a non-retail service deriving at least 50 percent of revenue from outside New Mexico, maintains a New Mexico facility, and is in good standing with state entities. at least fifty percent of total revenues generated from a client base outside of New Mexico

Eligible projects may receive LEDA support only if they make significant permanent-capital investments and create permanent full-time direct jobs; the project must also be sufficiently funded and ready to proceed. significant investment into permanent capital infrastructure

LEDA projects receive a formal public-process mechanism: the local governing body adopts an ordinance containing a project participation agreement and an intergovernmental agreement that set funding milestones, job requirements, and clawback terms. The project ordinance passed by the local community includes a PPA

Any LEDA project must provide security equal to the amount of the public LEDA investment, such as a letter of credit, surety bond, mortgage security, lien, or other qualifying security. provide security equal to the LEDA public investment