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Laguna Development Corporation ('LDC') is a federally-chartered corporation wholly owned by the Pueblo of Laguna, a federally recognized Indian tribe. The corporation is organized under Section 17 of the 1934 Indian Reorganization Act (25 U.S.C. ' 477), and was created pursuant to a Federal Charter of Incorporation approved by the United States Department of Interior on December 14, 1998, and ratified by the Pueblo on December 23, 1998. LDC operates pursuant to its Bylaws, adopted on December 23, 1998.
The Pueblo of Laguna's Tribal Council is the sole shareholder of LDC. Tribal Council appoints the Board of Directors and works with the Board to determine the operational and financial benefits that LDC is expected to provide to the Pueblo and its membership. Tribal Council interacts with the Board of Directors on all business related matters. The Board of Directors includes members of the Pueblo as well as seasoned business people who have specific management experience with operations that are similar to those of LDC. LDC operates two travel centers, two fuel centers, various convenience stores, a supermarket, several food establishments, three casinos, a transmix plant, and an RV Park, among other enterprises.
As a tribally owned business, LDC's first and foremost responsibility is to provide jobs for the community and revenue to the Pueblo government. Revenue sharing payments are made to the Pueblo on a regular basis. Additional resources are provided to the Pueblo through payment of regulatory fees to the Pueblo generated from LDC's gasoline, alcohol, and corporate taxes.
Revenue allows the Pueblo to provide essential governmental services to its members, including:
- Community wellness services
- Natural and environmental resource protection
- Public works
- Public safety
- Judicial services
- Utility services
- Education
- Elderly care
- General governance services
Revenue sharing payments are also made to the six Laguna villages: Paguate, Encinal, Mesita, Seama, Paraje, and Laguna.
In addition, LDC provides other valuable resources to the community:
- Charitable contributions
- Educational scholarships
- Senior discounts
- In-kind services
Unlike privately owned businesses, LDC's income doesn't go to an individual owner, but rather its income is dedicated to the well-being of the Pueblo of Laguna.
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