City of Albuquerque
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File #: EC-21-404   
Type: Executive Communication Status: Approved
File created: 8/2/2021 In control: City Council
Final action: 9/8/2021
Enactment date: Enactment #:
Title: Approval of Nuevo Atrisco Commercial Development & Disposition Agreement with Nuevo Atrisco, LLC
Attachments: 1. EC-404
Date Action ByActionResultAction Details
9/8/2021 City Council ApprovedPass Action details
8/16/2021 City Council Accepted with a recommendation Be Approved  Action details
8/9/2021 Finance & Government Operations Committee Sent to Council with a recommendation of Be ApprovedPass Action details
8/2/2021 City Council Received and Referred  Action details
8/2/2021 President Referred  Action details



06/24/2021
INTER-OFFICE MEMORANDUM

TO: Cynthia Borrego, City Council President

FROM: Timothy M. Keller, Mayor

SUBJECT:
title
Approval of Nuevo Atrisco Commercial Development & Disposition Agreement with Nuevo Atrisco, LLC
body

As provided in the New Mexico State Metropolitan Redevelopment Code and the Metropolitan
Redevelopment Agency Ordinance for the City of Albuquerque, the MRA issued a Request for
Proposals #03-2017 on March 28, 2017, soliciting development proposals for land owned by the City of Albuquerque. YES! Housing and Maestas Development Group, LLC (operating as Nuevo Atrisco, LLC for this project) responded to the RFP with a development proposal. The residential phase of the project, 88-units of workforce housing, was completed in 2020. The proposal includes retail, restaurants, and a public plaza. The proposal meets the West Central Metropolitan Redevelopment Plan by contributing to the area's economic growth, increasing attractiveness to private investment, and improving the overall physical appearance of the area.

The proposal was reviewed by a Selection Advisory Committee, and on June 17th 2021, the Albuquerque Development Commission voted to recommend City Council approve the negotiated Development Agreement with Nuevo Atrisco, LLC for the development of the commercial corner of the property.

Summary of Development Agreement Terms

* Developer shall construct at minimum 10,000 SF of retail space (which may include up to 2,400 sf of patio space) and a Public Plaza.
* The Public Plaza would include shade structures, interactive play and water features, tables and seating, landscaping, a plaza structure (approximately 3,200sf), and 7 "Micro Restaurants (food trucks and other modular micro-structures for food service).
* The Developer shall ground lease and manage the Plaza for an initial term of 30 years, and shall be responsible for all operating and maintenance costs.
* Developer is required to activate the Plaza and host at ...

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