INTER-OFFICE MEMORANDUM April 27, 2026
TO: Klarissa J. Peña, President, City Council
FROM: Timothy M. Keller, Mayor
SUBJECT:
title
Approval of the Exchange Agreement for property located at 2117 Osuna Rd NE for the property located at 6600 Zuni Rd SE
body
The Department of Municipal Development is requesting approval for an exchange agreement where the non- essential City-owned property located at 2117 Osuna Rd NE (“Osuna Property”) will be utilized as partial consideration in exchange for 6600 Zuni Rd SE (“Zuni Property”), a property also known as the Ballut Abyad Shrine property.
The Osuna Property, consisting of approximately a 1.25-acre or 54,450-square-foot parcel, and a site built 11,501 square foot mixed office-warehouse building was declared non-essential through EC-24-67. The Osuna Property is no longer needed and can be used as part of the exchange. The City intends to acquire the Zuni Property, consisting of a 3.719-acre or 162,000-square-foot parcel, and, a site built 29,850 square foot lodge facility with a chapel, banquet/dining rooms, offices, meeting rooms, and storage areas, based on its location, size, and potential to be utilized for long-term housing and activities beneficial to the community.
As part of the Exchange Agreement appraisals were obtained for both properties, with the Osuna Property being valued, by Brian Jackson, of Valbridge Property Advisors, on December 1, 2025, at $1,150,000.00 and the Zuni Property being valued, by Brian Jackson of Valbridge Property Advisors, on February 18, 2026, for $3,110,000.00. A final purchase price of $1,100,000.00 for the Osuna Property, and $3,100,000.00 for the Zuni property has been negotiated. The State of New Mexico and the City have executed an Intergovernmental Agreement to fund the remaining balance of $2,000,000.00, subject to Council appropriation through separate resolution.
The exchange agreement is subject to review and adoption by the Shriners, as well as the City’s due diligence.
Pursuant to Ordinance §5-2-1, City Council approval is requested to finalize the Exchange Agreement and to proceed with the closing.
TITLE/SUBJECT OF LEGISLATION: Approval of the Exchange Agreement for property located at 2117 Osuna Rd NE for the property located at 6600 Zuni Rd SE.
Approved: Approved as to Legal Form:
____________________________ ____________________________
Samantha Sengel, EdD Date Lauren Keefe Date
Chief Administrative Officer City Attorney
Recommended:
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Jennifer Turner, Director Date
Municipal Development
Gilbert Ramirez, Director Date
Department of Health, Housing and Homelessness
Anna Sanchez, Director Date
Department of Senior Affairs