Approval of Economic Development Project for Mantis Space Inc.

• •The ordinance authorizes a project participation agreement between the City of Albuquerque and Mantis Space Inc.
• •The project involves the leasing, construction, and improvement of a facility in Albuquerque.
• •The facility will focus on advanced optics research and development.
• •The facility will conduct limited-scale satellite component manufacturing.
• •The project's stated goal is the development of on-demand power in space.
• •The ordinance includes the appropriation of city funds for the project.
• •The City Council ratified previous actions taken in connection with this project.
• •The ordinance repeals any prior city actions that are inconsistent with this new legislation.
• •The project is authorized under the Local Economic Development Act and City Ordinance F/S O-04-10.

This ordinance authorizes the city to allocate public funds and enter into a formal agreement to facilitate the construction and operation of a specialized aerospace manufacturing facility in Albuquerque.

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.