This joint resolution ratifies and approves the exchange of five parcels of state-owned real property in Santa Fe, owned by the General Services Department, for one parcel of city-owned property also located in Santa Fe. The state property, collectively referred to as Tracts A, B, D, 3, and O-1, has an appraised fair market value of $6,500,000. In return, the city of Santa Fe will transfer ownership of a single parcel of land located at 4491 Cerrillos Road, which has an appraised value of $8,630,000. The exchange is being conducted without any additional compensation.

The resolution is in accordance with New Mexico statutes that require legislative approval for the sale, trade, or lease of state property valued at $550,000 or more. The General Services Department has determined that the state property is not currently being utilized or planned for future use, making the exchange beneficial for both parties. The resolution mandates that copies be sent to relevant officials, including the Secretary of General Services and the Mayor of Santa Fe, to ensure proper documentation and implementation of the property exchange.