{"id":427063,"date":"2017-09-15T08:23:50","date_gmt":"2017-09-15T14:23:50","guid":{"rendered":"http:\/\/nmpolitics.net\/index\/?p=427063"},"modified":"2017-09-15T08:23:50","modified_gmt":"2017-09-15T14:23:50","slug":"realtors-and-developers-give-big-money-to-abq-mayoral-candidates","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2017\/09\/realtors-and-developers-give-big-money-to-abq-mayoral-candidates\/","title":{"rendered":"Realtors and developers give big money to ABQ mayoral candidates"},"content":{"rendered":"

The amount of money being raised and spent in the Albuquerque mayor\u2019s race is already an unprecedented $2,646,494. Of that, 68 percent comes from private contributors to candidates.<\/p>\n

\"Money\"<\/a>

Pictures of Money \/ Creative Commons<\/p>

The real estate and land development sector has given roughly $1 of every $4 raised so far in the Albuquerque mayoral race once you subtract public financing dollars for one candidate and a half-a-million-dollar loan another candidate gave to himself, an NMID analysis shows. (photo cc info<\/a>)<\/p><\/div>\n

An often-heard saying about elections is that candidates spend their time asking anyone they can find for money to fund their campaigns. But a look at the campaigns of the three candidates raising the most in private dollars suggests one constituency is being asked a lot more than others.<\/p>\n

The real estate and land development sector has given roughly $1 of every $4 raised so far in the Albuquerque mayoral race once you subtract public financing dollars for one candidate and a half-a-million-dollar loan another candidate gave to himself, an NMID analysis shows.<\/p>\n

No other sector even comes close in its giving power, according to the analysis. The next closest group \u2014 attorneys \u2014 gave less than a third of what the real estate and land development sector did.<\/p>\n

A wide range of construction-related businesses, real estate industry professionals and companies, and land developers gave more than $476,000 of the $1,788,574 in privately donated cash or in-kind support collected by mayoral candidates.<\/p>\n

And within that sector, significant sums have come from interwoven groups of individuals or entities. Some contributors have donated individually, their companies and partners have contributed, and so have their family members.<\/p>\n

That this particular economic sector would account for such large sums at the local level isn\u2019t unusual, according to people who study the role of money in our political system.<\/p>\n

\u201cGroups with shared economic interest tend to get tightknit, form groups that are influential, and, having money, are able to support candidates,\u201d said Ed Bender, executive director of the National Institute on Money in State Politics, in an interview.<\/p>\n

Professor Timothy Krebs, a political scientist who specializes in the study of urban politics at the University of New Mexico, said it\u2019s not unusual to see the development community spend such significant money on a mayoral race. That\u2019s because city officials routinely make decisions about zoning and infrastructure that have a direct effect on the profitability of their companies, he said.<\/p>\n

\u201cThe one thing city officials control very directly is how land is used. And that\u2019s very important to these industries,\u201d he said.<\/p>\n

One group stands out<\/h3>\n

New Mexico In Depth discovered the sector\u2019s monetary power after wondering what interest groups in Albuquerque were donating the most to the mayoral campaign.<\/p>\n

A review showed a lot of cash in the race that isn\u2019t coming from particular economic sectors. State Auditor Tim Keller has public financing plus about $38,000 in in-kind support, for $417,348 to date. Ricardo Chaves, a local businessman, is funding his own campaign to the tune of $522,197.<\/p>\n

There are also numerous measure finance committees (Albuquerque\u2019s version of political action committees) through which private money is being raised and spent this election cycle. One of those is specifically formed to advocate for Keller, with 40 percent coming from labor unions.<\/p>\n