{"id":4237,"date":"2009-02-12T20:57:00","date_gmt":"2009-02-13T02:57:00","guid":{"rendered":"http:\/\/www.nmpolitics.net\/index\/2009\/02\/official-virgin-galactic-lease-wont-be-renegotiated\/"},"modified":"2009-02-12T20:57:00","modified_gmt":"2009-02-13T02:57:00","slug":"official-virgin-galactic-lease-wont-be-renegotiated","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2009\/02\/official-virgin-galactic-lease-wont-be-renegotiated\/","title":{"rendered":"Official: Virgin Galactic lease won’t be renegotiated"},"content":{"rendered":"

\"\"<\/a><\/p>\n

I reported earlier this week<\/a> that a bill in the Legislature that would protect companies doing business at Spaceport America<\/a> against civil lawsuits from passengers could mean a renegotiation of the lease agreement with Virgin Galactic<\/a>, but a state official says that\u2019s not the case.<\/p>\n

The fiscal impact report<\/a> for Senate Bill 37<\/a>, sponsored by Clinton Harden<\/a>, R-Clovis, states that the spaceport authority, which is insured through the state\u2019s Risk Management Division, requires those who lease facilities at the spaceport to carry \u201ccertain levels of insurance.\u201d<\/p>\n

\u201cIf this bill becomes law, those leases will have to be reviewed and perhaps amended to account for decreased liability,\u201d the official legislative report states.<\/p>\n

The only current lease holder is Virgin Galactic, which signed its lease in December<\/a>, so I reported earlier this week that, based on the fiscal impact report, the bill might mean a renegotiation of the contract and that Virgin might not have to pay the state as much money as it\u2019s already agreed to pay over the course of its 20-year lease.<\/p>\n

That won\u2019t happen, according to Steve Landeene, executive director of the spaceport authority.<\/p>\n

\u201cNo renegotiation will occur based on approval of this bill,\u201d he wrote in an e-mail about the Virgin contract.<\/p>\n

He said that\u2019s because the \u201cinsurance requirements\u201d for Virgin have \u201cbeen set and will not be changed.\u201d He added that the fees required by the lease won\u2019t be changed either. They\u2019re based on ground rent, facilities rent and user fees, not insurance.<\/p>\n","protected":false},"excerpt":{"rendered":"

I reported earlier this week that a bill in the Legislature that would protect companies doing business at Spaceport America against civil lawsuits from passengers could mean a renegotiation of the lease agreement with Virgin Galactic, but a state official says that\u2019s not the case. The fiscal impact report for Senate Bill 37, sponsored by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4237","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/4237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/comments?post=4237"}],"version-history":[{"count":0,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/4237\/revisions"}],"wp:attachment":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media?parent=4237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/categories?post=4237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/tags?post=4237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}