This joint resolution ratifies and approves the exchange of five parcels of state-owned real property, collectively valued at approximately $6.5 million, from the General Services Department to the City of Santa Fe in exchange for one parcel of city-owned property valued at approximately $8.63 million. The state properties, located within the "midtown campus" area of Santa Fe, include Tracts A, B, D, 3, and O-1, while the city property is situated at 4491 Cerrillos Road. The exchange is being conducted without any additional compensation, as both parties have agreed to the terms.

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 currently holds the title to the state properties but has no plans for their use, making the exchange beneficial for both the state and the city. 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.