Introduces Legislation To Divest The State Of The Facility

New Mexico State Senator George Munoz (D) has introduced legislation in the New Mexico legislature to put Spaceport America up for sale.

Munoz on Friday called the facility "a bill of goods that was never going to happen in the first place," according to the Associated Press.

The bill would require the New Mexico Spaceport Authority to work with other state agencies to create a marketing plan to sell the futuristic hangar, two-mile-long runway, and futuristic hangar, by October 1. According to the bill text:

• The sale of Spaceport America shall be at its highest and best use as a spaceport and shall not be for less than fair market value for that use. The sale shall be on the most advantageous terms for the state pursuant to fiduciary principles.
• During the marketing and sale process, the spaceport authority shall maintain Spaceport America in the same or better condition as that condition exists on July 1, 2015. As soon as practicable after July 1, 2015, the general services department shall assess the condition of Spaceport America and shall monitor the condition for the duration of the marketing and sale process. The general services department may direct the spaceport authority to provide maintenance as necessary.
• The net proceeds of the sale of Spaceport America, after necessary and customary costs and fees of sale have been paid as approved by the general services department, shall be deposited in a special account administered by and appropriated to the New Mexico finance authority for purposes pursuant to Subsection G of this section. Money in the special account described in this subsection shall not revert to the general fund except as provided in Subsection G of this section.
• The New Mexico finance authority shall use the money in the special account described in Subsection F of this section to call and pre-pay to the extent possible and as soon as can be done without penalty spaceport authority bonds issued by the New Mexico finance authority pursuant to the Spaceport Development Act on behalf of the spaceport authority. Any unencumbered or unexpended money remaining in the special account after all spaceport authority bonds have been pre-paid shall revert to the general fund.

The proposal comes after the October 31, 2014 accident involving Virgin Galactic's SpaceShipTwo, which has pushed the first commercial flights from Spaceport America back at least another year. Virgin Galactic is the anchor tenant for the facility.

Those opposed to the sale have pointed out that development of a spaceport does not happen overnight, and that the facility puts New Mexico on the cutting edge of the commercial space industry.

Spaceport America is the only commercially licensed spaceport purpose-built for commercial space flights and vertical rocket launches.

And in the real estate parlance of "Location, Location, Location" ... the remote spaceport far from population centers is seen as a positive by its developers, but Munoz says its a negative. He said that those with enough disposable income to take a tourist ride into space are more likely to go someplace like Dubai, where they can "stay in a 10-star hotel, buy a couple of Rolexes, drive a Bentley, fly in space and come back."

(Images from file)

FMI: Bill Text