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File #: R-18-98   
Type: Resolution Status: In Council - Consent Agenda
File created: 11/19/2018 In control: City Council
Final action:
Enactment date: Enactment #:
Title: Declaring The Intent Of The City Of Albuquerque, New Mexico, Subject To The Satisfaction Of Certain Conditions, To Issue Metropolitan Redevelopment Bonds In An Aggregate Principal Amount Not To Exceed $20,500,000.00 In Connection With The Acquisition, Construction And Equipping Of The Broadstone Highlands North Project For The Purpose Of Inducing Broadstone Highlands North, LLC Or Its Successors And Assigns, To Locate The Project In The City And To Develop The Project In The City As Described In The Project Plan (Benton, by request)
Attachments: 1. R-98, 2. R-98final
Date Action ByActionResultAction Details
12/3/2018 City Council Accepted with a Recommendation Do Pass (Immediate Action)  Action details
12/3/2018 City Council PassedPass Action details
11/26/2018 Finance & Government Operations Committee Sent to Council for Immediate ActionPass Action details
11/26/2018 Finance & Government Operations Committee Sent to Council with a recommendation of Do PassPass Action details
11/19/2018 City Council Introduced and Referred  Action details
11/19/2018 President Referred  Action details
CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL


COUNCIL BILL NO. R-18-98 ENACTMENT NO. ______________________

SPONSORED BY: Isaac Benton, by request


RESOLUTION
title
Declaring The Intent Of The City Of Albuquerque, New Mexico, Subject To The Satisfaction Of Certain Conditions, To Issue Metropolitan Redevelopment Bonds In An Aggregate Principal Amount Not To Exceed $20,500,000.00 In Connection With The Acquisition, Construction And Equipping Of The Broadstone Highlands North Project For The Purpose Of Inducing Broadstone Highlands North, LLC Or Its Successors And Assigns, To Locate The Project In The City And To Develop The Project In The City As Described In The Project Plan (Benton, by request)
body
DECLARING THE INTENT OF THE CITY OF ALBUQUERQUE, NEW MEXICO, SUBJECT TO THE SATISFACTION OF CERTAIN CONDITIONS, TO ISSUE METROPOLITAN REDEVELOPMENT BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $20,500,000.00 IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF THE BROADSTONE HIGHLANDS NORTH PROJECT FOR THE PURPOSE OF INDUCING BROADSTONE HIGHLANDS NORTH, LLC OR ITS SUCCESSORS AND ASSIGNS, TO LOCATE THE PROJECT IN THE CITY AND TO DEVELOP THE PROJECT IN THE CITY AS DESCRIBED IN THE PROJECT PLAN.
WHEREAS, the City of Albuquerque (the "City"), State of New Mexico (the "State"), is a legally and regularly created, established, organized and existing municipal corporation of the State; and
WHEREAS, pursuant to the Metropolitan Redevelopment Code, Chapter 3, Article 60A, New Mexico Statutes Annotated, 1978 Compilation, as amended (the "Code"), the City Council (the "Council") of the City is authorized to acquire metropolitan redevelopment projects to be located within metropolitan redevelopment areas; and
WHEREAS, the City desires to encourage redevelopment, so as to promote industry and develop trade or other economic activity by inducing profit or non profit corporations and commercial or business enterprises, among others...

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