CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. R-26-49 ENACTMENT NO. ________________________
SPONSORED BY: Joaquín Baca
RESOLUTION
title
Amending R-25-177 (Enactment No. R-2025-054) To Adjust The Funds For The Golden Forward Gizmo Projects (Baca)
body
AMENDING R-25-177 (ENACTMENT NO. R-2025-054) TO ADJUST THE FUNDS FOR THE GOLDEN FORWARD GIZMO PROJECTS.
WHEREAS, the City Council approved R-25-177 (Enactment No. R-2025-054), as amended, on August 4, 2025; and
WHEREAS, R-25-17 appropriated $7,562,000 in 2025 State Capital Outlay funds to four affordable housing projects in City Council District 2:
1. Lomas Towers Apartments (Lincoln Avenue Communities/Geltmore LLC/Fairview Housing Partners;
2. The Romero (Palindrome/Barelas Community Coalition);
3. The Gizmo Elevator Reno (Golden Forward); and
4. The Gizmo Façade Reno (Golden Forward).
WHEREAS, R-25-177 also directed the City, through its Health Housing and Homelessness Department (HHH), to utilize the Mortgage Finance Authority (MFA) Rules and the Affordable Housing Implementing Ordinance, to “otherwise identify a qualifying grantee” to provide the 2025 State Capital Outlay funds to the four identified projects and all were subsequently deemed qualified grantees; and
WHEREAS, an amendment is required to adjust the allocation of funding between the two Gizmo (Golden Forward) projects to move funding originally dedicated to the Façade Reno project to the Elevator Reno project; and
WHEREAS, there is no change to the total appropriation amount in the original Resolution, R-25-177.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. Section 1 of R-25-177 is amended as follows:
“SECTION 1. $7,562,000 identified in 2025 State Capital Outlay grant 25-J2714 is hereby appropriated to the following affordable housing projects located within the Downtown and Barelas Metropolitan Redevelopment Areas in City Council District 2. This funding is contingent upon the City’s determination that these projects are Qualifying Grantees and final review and approval by the Mortgage Finance Authority and the New Mexico Department of Finance/Local Government Division process for capital outlay projects.
GOAL AMOUNT TERM CONTRACTOR
LOMAS TOWERS APARTMENTS $5,000,000 3YRS LINCOLN
(MATCH) AVENUE
COMMUNITIES/
GELTMORE LLC/
FAIRVIEW
HOUSING
PARTNERS
THE ROMERO (MATCH) $1,931,249 3YRS PALINDROME/
BARELAS
COMMUNITY
COALITION
THE GIZMO ELEVATOR RENO [$587,409] 3YRS GOLDEN
[$630,751] FORWARD
[THE GIZMO FAÇADE RENO $43,342 3YRS GOLDEN FORWARD]”
SECTION 2. SEVERABILITY. If any section, paragraph, sentence, clause, word or phrase of this Resolution is for any reason held to be invalid or unenforceable by any court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions of this Resolution. The Council hereby declares that it would have passed this Resolution and each section, paragraph, sentence, clause, word or phrase thereof irrespective of any provision being declared unconstitutional or otherwise invalid.
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