ALBUQUERQUE, N.M. (AP) — The University of New Mexico Board of Regents has postponed talks on a $13 million investment in a high-tech research and development center in downtown Albuquerque.
The Albuquerque Journal reports (http://bit.ly/1d5ZPYM ) the regents voted Friday to temporarily table the discussion on the Innovate ABQ project. They want more time to vet questions about the project.
During Friday’s meeting, regents raised questions about the terms and conditions for buying property and about potential liabilities if the project is unsuccessful.
The discussions could resume in January.
The university expects to attract private developers to build out in phases a downtown property that would be purchased to house Innovate ABQ. Eventually, that would include research laboratories, office buildings, residential housing for students and entrepreneurs, parking and retail businesses.