A $6 million loan to a private film studio and a water deal with luxury subdivision Las Campanas were among the issues scheduled to be voted on by County Commissioners at a meeting Tuesday. But the meeting was delayed until 2 p.m. Friday because it hadn't been properly advertised.

"I don't know what happened," County spokesman Stephen Ulibarri said. "The person that usually does it thought she had done it, and I guess she didn't."

One of the issues that commissioners are scheduled to vote on during that meeting is the terms of a $6 million loan the county has agreed to make to Santa Fe Studios, a private company that proposes to build an eco-friendly film-studio complex off N.M. 14.

Santa Fe Studios has been approved for a $10 million state economic development grant but has had difficulty securing the balance of funding. The project was originally projected to cost about $40 million but has since been scaled back to a first phase with an estimated $16 million price tag.

Last month, officials from the International Alliance of Theatrical Stage Employees Local 480 volunteered to back the studio by taking over operations if Santa Fe Studios defaulted on the loan. But the union since then has determined it cannot be in a contractual agreement with an organization employing labor, according to county documents.

The new plan calls for La Luz Holdings Inc., a corporation owned by the same principals as Santa Fe Studios, to provide collateral to secure the loan.

Commissioner Liz Stefanics said Tuesday that the company has appraised assets of about $4 million that would be used to guarantee the loan. Stefanics said she didn't know exactly what those assets were, but that County Attorney Stephen Ross was asked to verify them.

A proposed agreement that would allow luxury subdivision Las Campanas to change its role in the Buckman Direct Diversion water project from that of a partner to that of a a bulk county water customer is another issue commissioners will consider at the rescheduled meeting Friday.

Under the terms of that draft agreement, Las Campanas would pay about 40 percent of the cost of constructing a pipeline that would channel water to the development, and transfer as much as 709 acre-feet of water rights to the county over time.

The agreement would not allow the development to use any of the water delivered to it by the county on either of its two golf courses.

Friday's meeting is scheduled to begin at 2 p.m. in the County Chambers at 102 Grant Ave.

Contact Phaedra Haywood at 986-3068 or phaywood@sfnewmexican.com.