ALBUQUERQUE, N.M. (KRQE) – Albuquerque city councilors have unanimously approved changes to the Local Economic Development Act (LEDA) to help small businesses. Smaller businesses will now have easier access to LEDA funding for sustained growth.

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Current LEDA legislation requires a minimum of ten year to participate in project terms, making access to the funding unfeasible for some companies. The amendment allows city council to approve LEDA projects for less than ten years under certain circumstances.