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Mayor wants to study possibility of launching public bank

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Posted: Tuesday, June 10, 2014 9:00 pm

Mayor Javier Gonzales wants to study the feasibility of creating a public bank in Santa Fe to grow the local economy by keeping taxpayer money in the city.

Gonzales, who talked about the idea on the campaign trail, organized a presentation Tuesday for city councilors and others to understand the basics of public banking, which leverages a government’s assets to stimulate investment in the community. Examples of public banking include offering low-interest loans to local businesses or low-cost financing for public projects, such as housing and infrastructure.

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