City of Albuquerque
File #: EC-14-82   
Type: Executive Communication Status: Approved
File created: 5/5/2014 In control: City Council
Final action: 6/16/2014
Enactment date: Enactment #:
Title: Albuquerque Rail Yards Master Development & Disposition Agreement
Attachments: 1. EC-82
Date Action ByActionResultAction Details
6/16/2014 City Council ApprovedPass Action details
5/19/2014 City Council Accepted with a recommendation Be Approved  Action details
5/14/2014 Land Use, Planning, and Zoning Committee Sent to Council with a recommendation of Be ApprovedPass Action details
5/5/2014 City Council Received and Referred  Action details
5/5/2014 President Referred  Action details
City of Albuquerque

Richard J. Berry, Mayor

Interoffice Memorandum April 24, 2014

To: Ken Sanchez, President, Albuquerque City Council

From: Richard J. Berry, Mayor

Subject: title
Albuquerque Rail Yards Master Development & Disposition Agreement

My Administration requests the introduction of this contract for immediate action.

The attached contract is the Albuquerque Rail Yards Master Development and Disposition Agreement (the "Agreement") entered into between the City of Albuquerque (the "City") and Samitaur Constructs ("Samitaur"). The City and Samitaur have previously entered into a Master Plan Agreement ("MPA") for the site. This Agreement supplements the MPA by adding provisions governing the disposition and development of the property within the project area.

This Agreement is subject to approval by the City Council and the Chief Administrative Officer of the City. Upon the Effective Date, the covenants, terms and conditions of this Agreement will be binding on and inure to the benefit of the City and of Samitaur and their heirs, devisees, personal representatives, successors and assigns.

The effective date of this Agreement shall be the date of approval by the City Council or the Chief Administrative Officer of the City, whichever, event occurs later (the "Effective Date").

This Agreement will be managed and implemented by the City's Metropolitan Redevelopment Agency (the "MRA").

Now, therefore, based on the recitals above, which are hereby incorporated into the body of this agreement, the mutual promises and covenants of the parties contained in this agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by both parties in this Master Development and Disposition Agreement.

Recommended: Approved as to Legal Form:

_____________________________ ____________________________...

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