March 5th, 2021 – REQUEST FOR INFORMATION No. LDC0321

From time to time, gifts of land are accepted by the UNM Board of Regents. Benefactors may have an affinity for a particular educational program, general sentiment for UNM, such as that of an alumnus, or may see the University as a stable long-term steward of a land conservation or preservation intent. As a consequence, the UNM Regents have become the owners of a number of large tracts of land. Some of these properties have past or ongoing educational benefits or may have no educational benefit. In each case, benefactor wishes have been expressed in the form of deed restrictions. Lobo Development Corporation is exploring any and all property management alternatives which result in increased value of the property, offer a monetary return for the UNM Regents, preserve or enhance ability to fulfill benefactor wishes, and increase owner’s land management flexibility and creativity. Lobo Development has made an assumption that removal of current deed restrictions, replaced with a conservation easement held in trust with a land trust organization may more effectively serve the benefactor’s wishes. Additionally, this may allow for the sale of all or part of the parcel of the subject land and/or the sale of tax credits granted for retirement of the development rights in instances where the deed is unrestricted. LDC is seeking to learn if there is a viable and repeatable process to convert undervalued or underperforming properties into valuable assets. Inherent in this search is developing an understanding and expectation of the steps involved from assessment through to a final transaction. LDC seeks to identify the specialties and types of firms needed at each step. Finally, LDC seeks to identify the legal and land management principles and policies that guide the decision making and transaction process.

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