Holy Hollywood, Batman!

--The state's film rebate backlog is now a stunning $382 million. While we don't often call on him for assistance, this time we are yelling into the megaphone: "Dr. No, to the emergency room immediately!"

That would be fiscal hawk and Dem Senate Finance Committee Chairman John Arthur Smith whose opponents fault for saying "no" all too often. But in this case someone has to stop being a movie fan and be a movie critic.

First, if the current $50 million cap on annual film incentives is to be raised, don't make it much. We're already too deep in the quicksand.

Second, we have to pay off the $382 million but it should be done over several years. The $150 million the House budget puts up is too much for one year.

Third, the state economic thinkers now need to focus more effort on attracting other industries and ones that are not as costly because. . .

Fourth, the dog caught the bus. Netflix has committed a $1 billion investment over ten years for ABQ film production. That is the big kahuna and more than anyone expected. The rebates/incentives have more than worked. Now maximize that investment for the entire state, but chill on more generous rebates that threaten to take needed surplus dollars from education.

The state's DC delegation managed to prevent Amtrak passengers of the future from being forced off the train in Kansas and make their way to ABQ by bus. Maybe Trump doesn't dislike us that much after all--or just isn't paying attention.

--It's well into the 21st century and NM is still talking about high speed Internet? Yep:

HB 9 creates the Broadband Infrastructure Development Fund providing $10 million of grants and loans to local governments. The legislation addresses lack of access to high-speed broadband, and specifically ensures the inclusion of tribal nations and pueblos, which are plagued with some of the lowest Internet access rates. 

By all means, pass the bill, but how about some results--maybe sometime this century? Better yet, why not just issue a state general obligation bond and have the government wire what's left to be wired with high speed Internet. Then contract with a private company to run it. Come on, New Mexico. 20 years? Really?

BRING ON LADY GAGA

Talk of finally tearing down 62 year old Tingley Coliseum at the State Fairgrounds and building a new arena for the youth of today--who as we just reported are fleeing the state--and to start attracting the major musical acts that so often bypass ABQ because there's no place to put them--is starting to get more real. A study has been in the works for nearly two years and Expo NM manager Dan Mourning says it will be completed "soon".

A Senior Alligator with long experience with the state games out the possibility that Tingley will get the send off it sorely needs:

Joe, there's a bunch yet to be done before anybody buys shovels. There are discussions underway with experts in arena and stadium development. Those studies will include recent changes to the political and economic landscape (a new Governor; an active ABQ mayor etc.), utilization possibilities by entities that might impact the building's design such as concerts, basketball and  trade shows.

The first question from everybody, will be "how big, and how much?" They are talking 15,000 capacity to start but they may want to think bigger to ensure they can get the major acts here. Costs also change with decisions on the bells and whistles that go into the facility. A public/private partnership will likely be proposed.

Manager Mourning has suggested state severance tax bonds as one source of funding. But it looks as if Lady Gaga will have to wait a while before she's an ABQ headliner. Maybe in a couple of years she can open a brand  new arena and bring Tony Bennett along to sing one of their cool duets.

By the way, did you known Roy Rogers and Dale Evans were the act for the opening of Tingley way back in '57? Happy trails to you. . .

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(c)NM POLITICS WITH JOE MONAHAN 2019