The hotel is being built on village land, with a 50-year lease of five percent of the land's appraised value. The village and Leisure Hotels will share other costs-a walkway to the Convention Center, landscaping, parking and signs. The village also receives approximately three per cent of the cost of the project in gross receipts tax from the construction company. Midtown Ruidoso has a new look, thanks to a new eight-unit retail complex. Built by the McMurtry family, owners of three Roswell automobile dealerships, the 6,800-sq.ft.
Horse racing continues to be a major draw for visitors.
Attendance at the track for the entire summer was up nearly three per cent from last year. Simulcast racing and the adjoining Billy the Kid Casino continue operations year-around. Valor Telecommunications took over telephone service in the Ruidoso area on Sept. 1. Anne K. Bingaman, company chairman and CEO, said the company plans to upgrade the system with features like caller ID, three-way calling and call waiting. The company also plans to bring high-speed data service to the area within the next two years.