City of Albuquerque
Share to Facebook Share to Twitter Bookmark and Share
File #: R-19-212   
Type: Resolution Status: In Council - Final Action
File created: 12/2/2019 In control: City Council
Final action:
Enactment date: Enactment #:
Title: A Resolution Relating To The Proposed Relationship Between The City Of Albuquerque's Departments Of Economic Development And Aviation And The New Mexico Small Business Investment Corporation For The Purpose Of Promoting Economic Development At The Albuquerque International Sunport's Aviation Center For Excellence (ACE) Business Park; Declaring The Intent Of The City Of Albuquerque To Consider For Adoption An Ordinance Authorizing The Pledge Of Certain Aviation Department Revenues Previously Appropriated For Local Economic Development Purposes To Leverage A Revolving Loan Program With The New Mexico Small Business Investment Corporation For The Benefit Of Eligible Private Entities Seeking To Locate At The Albuquerque International Sunport's Ace Business Park (Davis, by request)
Attachments: 1. R-212
CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL


COUNCIL BILL NO. R-19-212 ENACTMENT NO. _____________________

SPONSORED BY: Pat Davis, by request


RESOLUTION
title
A Resolution Relating To The Proposed Relationship Between The City Of Albuquerque's Departments Of Economic Development And Aviation And The New Mexico Small Business Investment Corporation For The Purpose Of Promoting Economic Development At The Albuquerque International Sunport's Aviation Center For Excellence (ACE) Business Park; Declaring The Intent Of The City Of Albuquerque To Consider For Adoption An Ordinance Authorizing The Pledge Of Certain Aviation Department Revenues Previously Appropriated For Local Economic Development Purposes To Leverage A Revolving Loan Program With The New Mexico Small Business Investment Corporation For The Benefit Of Eligible Private Entities Seeking To Locate At The Albuquerque International Sunport's Ace Business Park (Davis, by request)
body
WHEREAS, the City of Albuquerque (the "City") is a legally and regularly created, established, organized, and existing municipal corporation of the State of New Mexico (the "State"); and
WHEREAS, pursuant to Sections 5-10-1 through 5-10-13 NMSA 1978, as amended (the "Act"), the City is authorized to provide economic development assistance to eligible entities for certain projects located within the corporate limits of the municipality; and
WHEREAS, pursuant to the Act, the City has adopted Ordinance No. F/S 04-10 (the "LEDA Ordinance"), approving an economic development plan for the City and authorizing the City to assist economic development projects in any legally permissible manner, subject to the terms of the LEDA Ordinance; and
WHEREAS, the City has previously appropriated $4,000,000 of Aviation Department revenues to benefit commercial development projects at the Albuquerque International Sunport (the "Sunport"); and
WHEREAS, the Aviation Department, with the assistance of the Ci...

Click here for full text