City of Albuquerque - File #: R-19-118

• File #: R-19-118
• Type: Resolution
• Status: Enacted
• File created: 1/7/2019
• In control: City Council
• Final action: 1/23/2019
• Enactment date: 2/5/2019
• Enactment #: R-2019-009
• 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 $26,400,000.00 In Connection With The Acquisition, Construction And Equipping Of The Marriott Springhill Suites Project For The Purpose Of Inducing Urban Hospitality NM, 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)
• Sponsors: Isaac Benton (By Request)

Date	Action By	Action	Result
2/5/2019	City Clerk	Published
1/30/2019	Mayor	Signed by the Mayor
1/29/2019	City Council	Sent to Mayor for Signature
1/23/2019	City Council	Accepted with a Recommendation Do Pass, as Amended (Immediate Action)
1/23/2019	City Council	Passed	Pass
1/14/2019	Finance & Government Operations Committee	Sent to Council for Immediate Action	Pass
1/14/2019	Finance & Government Operations Committee	Sent to Council with a recommendation of Do Pass, as Amended	Pass
1/14/2019	Finance & Government Operations Committee	Amended	Pass
1/7/2019	City Council	Introduced and Referred
1/7/2019	President	Referred

CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL


COUNCIL BILL NO. R-19-118 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 $26,400,000.00 In Connection With The Acquisition, Construction And Equipping Of The Marriott Springhill Suites Project For The Purpose Of Inducing Urban Hospitality NM, 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 $26,400,000.00 IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF THE MARRIOTT SPRINGHILL SUITES PROJECT FOR THE PURPOSE OF INDUCING URBAN HOSPITALITY NM, 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, to locate, ...