We in the City of Santa Fe Building Industry have been devastated by the loss of more than 50 % of our work in the city since 2008. There has been over a 50% drop in construction employment since May of 2008 and a 58.9% drop in GRT from construction since 2007. Construction employment is at its lowest level since 1992. We urge the Santa Fe City Council to support Bill 46 that reduces Impact Fees for residential development by 100% for a period of two years in an effort to reduce the financial burden of building in the City thereby encouraging construction.