City of Albuquerque
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File #: R-20-15   
Type: Resolution Status: In Council - Consent Agenda
File created: 2/3/2020 In control: City Council
Final action: 2/19/2020
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 $10,000,000.00 In Connection With The Acquisition, Construction And Equipping Of The Franz Project For The Purpose Of Inducing 1716 Central Avenue, 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-15, 2. R-15final
Date Action ByActionResultAction Details
2/19/2020 City Council Accepted with a Recommendation Do Pass (Immediate Action)  Action details
2/19/2020 City Council PassedPass Action details
2/10/2020 Finance & Government Operations Committee Sent to Council with a recommendation of Do PassPass Action details
2/10/2020 Finance & Government Operations Committee Sent to Council for Immediate ActionPass Action details
2/3/2020 City Council Introduced and Referred  Action details
2/3/2020 President Referred  Action details
CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL


COUNCIL BILL NO. R-20-15 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 $10,000,000.00 In Connection With The Acquisition, Construction And Equipping Of The Franz Project For The Purpose Of Inducing 1716 Central Avenue, 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 $10,000,000.00 IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF THE FRANZ PROJECT FOR THE PURPOSE OF INDUCING 1716 CENTRAL AVENUE, 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, expand or remain in metropolitan redevel...

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