A Master Planned Community in
• Paseo Gateway is a master planned community within the City of
  Rio Rancho, New Mexico consisting of approximately 1030 acres of
  multiple use zoned land. It is centrally located in the community and
  has good access via Paseo Del Volcan, a new limited access
  roadway, planned to connect NM State Road 550 to I-40. The first
  phase of construction on the south side of Paseo Gateway is
  complete from Iris Rd. west past the new City Centre to Unser Blvd.
  Phase two from Iris to NMSR 550 is scheduled for completion in
  2010. Rio Rancho Public Schools owns approximately 140 acres
  within the area on which they are now building Rio Rancho’s second
  High School, a $109,000,000 facility scheduled to open in 2009.
  AMREP Corporation owns approximately 300 acres of land and the
  balance of approximately 590 acres is owned by the State of New
  Mexico through the State land Office and the NM Department of
HPP                                                                                          Federal TIP                           Planning TIP
Project                          TIP ID    CN        Land           Dept.         2006          2007          2008          2009       2010   2011      Total
University Blvd.                  394     7579      City of      DMD-Dept.      $2,000,000    $1,000,000    $1,000,000    $1,000,000                 $5,000,000
Extension to Mds.                                 Albuquerque    Munic. Devel

I-40 & West Central               401     G4013     NMDOT         Planning                                 $12,000,000                               $12,000,000
Interchange Reconstruction

Double Eagle II Road (PdV)        406     L3095     City of        Aviation                   $4,800,000    $1,600,000    $1,600,000                 $8,000,000
Rehabilitation                                    Albuquerque       Dept.

I-25,Tramw ay Rd to Bernalillo    408     G2A13     NMDOT         District 3                                              $2,800,000                 $2,800,000
(Reconstruction & Widening)

Paseo del Volcan (Northern       418.1    L3137    City of Rio    DPI-Dept.                   $1,500,000                 $14,700,000                 $16,200,000
Section) Stage II                                   Rancho        Pub. Infra.

I-25 & Paseo del Norte            442     D3026     NMDOT         District 3                  $1,000,000   $10,000,000    $9,000,000                 $20,000,000
Interchange Stage I

I-25 & Mesa del Sol               454     G3913     NMDOT         District 3                                              $5,600,000                 $5,600,000

Coors Boulevard & Quail Rd        456     L3049      City of   DMD-Dept.                                                 $15,600,000                 $15,600,000
Intersection                                      Albuquerque Munic. Devel.

(8 HPP Projects)                                                                $2,000,000    $8,300,000   $24,600,000   $50,300,000                 $85,200,000

Wednesday, March 21, 2007
The State owned property, consists of approximately 536 acres of zoned property
(hereinafter, SLO property) and the NMDOT property (the Paseo del Volcan
right of way) of approximately 54 acres. The zoned SLO property consists of the

    1. Residential (incl. Community Center)         323.985 Acres
    2. S-U Mixed Use                                 65.739
    3. M-1 Light Industrial                          44.527
    4. C-1 Commercial                                60.566
    5. Institutional (Education)                      41.35
      Total non residential                          212.18
The property has been annexed and zoned by the City of Rio Rancho, and an agree-
ment to provide water and sewer service was obtained in April of 2007. The agree-
ment calls for the payment of $4,000,000 to the CORR which will be used to fund a
new well to provide water for the area. The payment will be Impact fee creditable.
The property has been cleared of all known archeological sites and approved for
Development by the State Historical Preservation Dept. as of mid 2007. A plat is in
process at the CORR. Electric and gas utilities will be provided by PNM and are not
expected to be unduly expensive.

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