City of Albuquerque
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File #: O-21-57   
Type: Ordinance Status: In Committee
File created: 4/5/2021 In control: Finance & Government Operations Committee
Final action:
Enactment date: Enactment #:
Title: Relating To The Redevelopment, Leasing And Sale Of A Metropolitan Redevelopment Project Within The Sycamore Metropolitan Redevelopment Area Consistent With The Terms Of The Sycamore Metropolitan Redevelopment Plan; Approving The Metropolitan Redevelopment Application Entitled "Springhill Suites Metropolitan Redevelopment Application"; Authorizing The Acquisition Of Land And Existing Improvements And Construction Of A Building Within The Sycamore Metropolitan Redevelopment Area; Authorizing The Disposition By Lease And Sale Of The City's Interest In Such Project To Urban Highlands East, LLC, Its Successors And Assigns; Authorizing The Execution And Delivery Of A Lease Agreement And Other Documents In Connection With The Project; Making Certain Determinations And Findings Relating To The Project; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Benton, by request)
Attachments: 1. O-57
CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL


COUNCIL BILL NO. O-21-57 ENACTMENT NO. ______________________

SPONSORED BY: Isaac Benton, by request


ORDINANCE
title
Relating To The Redevelopment, Leasing And Sale Of A Metropolitan Redevelopment Project Within The Sycamore Metropolitan Redevelopment Area Consistent With The Terms Of The Sycamore Metropolitan Redevelopment Plan; Approving The Metropolitan Redevelopment Application Entitled "Springhill Suites Metropolitan Redevelopment Application"; Authorizing The Acquisition Of Land And Existing Improvements And Construction Of A Building Within The Sycamore Metropolitan Redevelopment Area; Authorizing The Disposition By Lease And Sale Of The City's Interest In Such Project To Urban Highlands East, LLC, Its Successors And Assigns; Authorizing The Execution And Delivery Of A Lease Agreement And Other Documents In Connection With The Project; Making Certain Determinations And Findings Relating To The Project; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Benton, 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, the City desires to promote redevelopment in areas designated as blighted areas so as to promote neighborhood stabilization by providing affordable housing, convenient services, creating new jobs, upgrading area buildings, infrastructure and housing for such areas and to promote public health welfare, safety convenience and prosperity; and

WHEREAS, pursuant to the Metropolitan Redevelopment Code, Sections 3-60A-1 through 3-60A-13 and Sections 3-60A-14 through 3-60A-48, New Mexico Statutes Annotated, 1978 Compilation, as amended (the "Act"), the City is authorized to acquire, whether by construction, purchase, gift or lease, and to finance, ...

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