City of Albuquerque
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File #: R-18-110   
Type: Resolution Status: Enacted
File created: 12/3/2018 In control: City Council
Final action: 12/17/2018
Enactment date: 12/27/2018 Enactment #: R-2018-098
Title: Supplemented, And Certain Other Related Agreements, In Connection With The Purchase Of The Property Underlying The Districts By MDS Investments, LLC, For The Purpose Of Financing Public Infrastructure Improvements Within The Districts (Davis)
Attachments: 1. R-110.pdf, 2. R-110 Approved Floor Substitute.pdf, 3. R-110 TIDD Exhibit A.pdf, 4. R-110 TIDD Exhibit B.pdf, 5. R-110 TIDD Exhibit C.pdf, 6. FS R-110Enacted
Date Action ByActionResultAction Details
12/27/2018 City Clerk Published  Action details
12/27/2018 Mayor Signed by the Mayor  Action details
12/20/2018 City Council Sent to Mayor for Signature  Action details
12/17/2018 City Council Passed as SubstitutedPass Action details
12/17/2018 City Council SubstitutedPass Action details
12/3/2018 City Council Introduced  Action details
12/3/2018 President To be heard at the Council Meeting  Action details
CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL


COUNCIL BILL NO. F/S R-18-110 ENACTMENT NO. ________________________

SPONSORED BY: Patrick Davis


RESOLUTION
title
Supplemented, And Certain Other Related Agreements, In Connection With The Purchase Of The Property Underlying The Districts By MDS Investments, LLC, For The Purpose Of Financing Public Infrastructure Improvements Within The Districts (Davis)
body
CONSENTING TO THE ASSIGNMENT OF THE MASTER DEVELOPMENT AGREEMENT FOR THE MESA DEL SOL TAX INCREMENT DEVELOPMENT DISTRICTS 1 THROUGH 5, BY AND AMONG THE CITY OF ALBUQUERQUE, NEW MEXICO, MESA DEL SOL, LLC AND THE DISTRICTS RECORDED IN THE BERNALILLO COUNTY, NEW MEXICO REAL ESTATE RECORDS ON JUNE 19, 2008, AS AMENDED AND SUPPLEMENTED, AND CERTAIN OTHER RELATED AGREEMENTS, IN CONNECTION WITH THE PURCHASE OF THE PROPERTY UNDERLYING THE DISTRICTS BY MDS INVESTMENTS, LLC, FOR THE PURPOSE OF FINANCING PUBLIC INFRASTRUCTURE IMPROVEMENTS WITHIN THE DISTRICTS.
WHEREAS, the Boards of Directors of the Mesa Del Sol Tax Increment Development Districts 1 through 5 (the "Districts"), being tax increment development districts established and existing pursuant to NMSA Sections 5- 15-1 et seq., previously have approved, executed and delivered the Master Development Agreement by and among the Districts, the City of Albuquerque, New Mexico (the "City") and Mesa del Sol, LLC (the "Original Developer"), recorded in the Bernalillo County, New Mexico Real Estate Records on June 19, 2008, as amended and supplemented (the "TIDD Master Development Agreement"; capitalized terms used in this Resolution and not otherwise defined herein shall have the meanings provided in the TIDD Development Agreement); and
WHEREAS, the Original Developer (and/or its successors in interest with respect to the real property underlying the Districts, referred to herein as the "Seller") was named as the Defendant in a certain court proceeding in the Second Judicial District C...

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