Missed the Issue - NMBW editorial
As one of the leading, and sometimes only pro-business, newspapers, we were surprised by the reporting and editorial stance that the NM Business Weekly took as it related to the Jones Automotive Building located at 3220 Central SE.
The disappointment came from your recent editorial supporting the cultural center, which we felt missed the larger issue of private property rights vs. government condemnation. In one of the poorest and already heavily taxed states in the Union, the public sector should only intervene when the private sector cannot compete.
As a representative of the seller, we negotiated with many private parties that had the financial means, the time, and the resources to renovate the old Jones Automotive building, whose efforts were often thwarted by the public relations engine and heavy hand of the County government.
Although the spirited debate of restaurant/bar vs. community center was interesting, the
true macro issue is simple: when is it ok for any government agency to intervene with a private owner's property rights?
The next time the county attempts to condemn a property, with risk of breaching a contract with private parties, that the New Mexico Business Weekly will thoroughly investigate all sides of the issue before endorsing a government taking versus private business enterprise.
Todd Clarke CCIM and Terrie Hertweck CCIM, Investment Brokers - Grubb & Ellis|Lewinger Hamilton Inc.