Thornburg will get to build an office on office complex on Ridgetop Road in Santa Fe, New Mexico, the city's finance committee said Monday. Final approval will come from a vote, scheduled for May 30 from the full city council.

The Sante Fe New Mexican reports that the city would issue $45 million in industrial-revenue bonds that would be used by a Thornburg holding company to build the office campus. The 30-year bonds would be repaid by the holding company -- Ridgetop Road LLC -- which would also oversee construction of the project.

The deal will save Thornburg an estimated $11.9 million over 30 years in property-tax payments, based on city estimates. The city sees the company as an asset to the community, paying high wages and running a clean ship.  

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