Who is SFRCC?
The Santa Fe Railyard Community Corporation (SFRCC), a private 501C3 non-profit corporation, is responsible for the construction, leasing, property and public use event management of the revitalized Railyard. SFRCC is also responsible for managing the entitlement of each building project proposed by its land lease tenants. SFRCC and the Trust for Public Land as well as other community partners were involved in developing this community asset with the support of the City of Santa Fe.
SFRCC master leases 40 of the 50 acres of the North and Baca Street Railyards from the City of Santa Fe, which owns the property and 5 of the existing buildings. The non-profit leases the existing City-owned buildings and the ground to developers of new buildings and manages the common areas adjacent to the City-managed streets, parking garage and public spaces.
SFRCC serves as the bridge between the public and private sector. SFRCC has the autonomy to enter into private leases with private developers and businesses. SFRCC must balance the needs of the City of Santa Fe, the community and the private entities that comprise its tenants. SFRCC has both rights and obligations to the City and its tenants, pursuant to the various lease documents.
SFRCC also serves as Project Manager and Contractor under City Professional Service Agreements for construction and repairs to City property throughout the project with $19.5 million in projects completed as of 2018.
SFRCC manages the Railyard with a staff of 3 and the support of an active and diverse board of 12 volunteers. Monthly board meetings are open to the public and annual third-party financial audits are provided to the City of Santa Fe.
100% of SFRCC’s income is derived from ground rents and event management income. No City funding is provided for operating SFRCC. Even though SFRCC is a 501(c) nonprofit, it does not undertake traditional nonprofit fundraising activities.