YOU’LL HAVE A CHANCE TO WEIGH IN ON THE NETFLIX DEAL TONIGHT. THE ALBUQUERQUE CITY COUNCIL WILL HOLD A SPECIAL MEETING TO CONSIDER GIVING NETFLIX 4 AND-A-HALF MILLION DOLLARS IN ECONOMIC DEVELOPMENT FUNDING. COUNCIL PRESIDENT KEN SANCHEZ SAYS THE PROPOSAL HAS A CLAW-BACK PROVISION THAT PROTECTS ALBUQUERQUE TAXPAYERS. IT’S BELIEVED THEY’LL PAY BACK IN A DECADE OR SOONER WHAT THE CITY IS CHIPPING IN WITH LEDA FUNDING FOR NETFLIX.
THE “LEDA” FUNDS ARE TIED TO A NETFLIX PLAN TO PURCHASE ALBUQUERQUE STUDIOS AND MAKE IT A MAJOR PRODUCTION HUB.
THURSDAY’S COUNCIL MEETING GETS UNDERWAY AT 5PM.
