Southeast New Mexico college buys 3 acres of land for future expansion
Just over 3 acres of land abutting University and Drive and across from Lowe's Home Improvement will be added to the Southeast New Mexico College campus.
The College's Board of Trustees agreed to enter a contract to purchase 3.2 acres of land in a vote July 10.
President of SENMC Kevin Beardmore told trustees in the July 10 meeting that the college is working with Dunagan & Associates in the $725,000 land purchase. The land was originally listed for sale at $750,000, according to Beardmore.
While Board Chair Ned Elkins made it clear that the land was not yet designated for any use, college leaders hoped to see signage placed there.
"I would hope over the long haul that we will develop a plan for utilization," Elkins said during the meeting.
"I think it has a great future. I don't know what it is now but I will say … that sometime soon once we get that land I would hope we have something more that announces this college."
The land already contains one billboard, though its ownership was not clear.
Beardmore also said due diligence on the purchase was not completed — an environmental assessment, survey and review of utilities on the property were yet to be scheduled.
Beardmore said that the college would pay $5,500 to purchase a survey of the property and other land research from the person who previously had the land under contract but did not finalize the sale. He said the expenditure was part of the university's "due diligence" ahead of finalizing the sale.
The funds to purchase the land would come from the college's reserve funds, which Beardmore told the Current-Argus were bolstered by revenue from the fossil fuel industry.
"They are monies we have in the bank so it is not coming from the monies that come from the state," Beardmore said. "In the end we have surplus monies coming in from oil and gas taxes and revenues and its coming from those funds."
The land purchase will go before the New Mexico Higher Education Department in August for review and approval, with the possibility of closing the sale in September.
Though no designated use for the land was discussed Beardmore reminded members of the Board that Southeast New Mexico College's strategic plan calls for the implementation of a workforce development center, early childhood academy and residence halls.
Beardmore said he saw the addition of the land to the campus' portfolio as "critical," adding that the value of the land might count as matching funds for future capitol projects funded by the state or federal government.
"I see that piece of land of being absolutely essential to us because it'll allow us to be visible … because it's really our only chance to buy something that's near to us to grow."
Jessica Onsurez can be reached at jonsurez@gannett.com. Follow her on Twitter at @JussGREAT.
This article originally appeared on Carlsbad Current-Argus: Southeast New Mexico College buys 3 acres of land for future expansion
