Las Cruces Council Work Session - July 13, 2026

The City of Las Cruces held a council work session on July 13, 2026, which included detailed discussions on the management and allocation of the Tel Shore Facility Fund. The fund, originating from lease proceeds of Memorial Medical Center, currently holds approximately $53.5 million invested primarily with the New Mexico State Investment Council. Council members reviewed past and ongoing capital improvement projects funded by the Tel Shore Fund, including park renovations, fire station construction, and affordable housing developments. The council debated investment strategies, emphasizing the importance of preserving the fund's corpus to sustain annual nonprofit allocations, while considering liquidity needs and potential hiring of a financial advisor to optimize returns and guide future spending. Additionally, updates were provided on affordable housing projects and the 2022 Go Bond initiatives. The session concluded with a consensus to maintain investments with the state council, sell assets as needed for liquidity, and keep the fund's principal intact to support ongoing community services.