City of Albuquerque - File #: R-21-202

• File #: R-21-202
• Type: Resolution
• Status: Enacted
• File created: 9/20/2021
• In control: City Council
• Final action: 10/4/2021
• Enactment date: 10/18/2021
• Enactment #: R-2021-072
• Title: F/S Approving The Petition Of The Regents Of The University Of New Mexico By And Through Lobo Development Corporation, A New Mexico Nonprofit Corporation Formed Under The Research Park And Economic Development Act, And The City Of Albuquerque, New Mexico For Formation Of The South Campus Tax Increment Development District (The "District" Or "TIDD") Pursuant To The Tax Increment For Development Act, Sections 5-15-1 Through 5-15-29, NMSA 1978 And City Council Ordinance, Chapter 4, Article 10; Making Findings In Connection With The Petition And Supporting Documentation Requesting Approval Of The Formation Of The TIDD; Determining The Real Property To Be Included Within The TIDD And The Purposes For Which The TIDD Is Being Formed; Approving The Joint Application, Petition, And Financial Feasibility Study For The TIDD; Ratifying The Tax Increment Development Plan Approved For Consideration In Connection With The Formation Of The TIDD; Dedicating 75% Of The Gross Receipts Tax Increment And 7...
• Sponsors: Isaac Benton, Pat Davis

Date	Action By	Action	Result
10/18/2021	City Clerk	Published
10/15/2021	Mayor	Signed by the Mayor
10/7/2021	City Council	Sent to Mayor for Signature
10/4/2021	City Council	Passed as Substituted	Pass
10/4/2021	City Council	Substituted	Pass
9/20/2021	City Council	Introduced
9/20/2021	President	To be heard at the Council Meeting

CITY of ALBUQUERQUE
TWENTY-FOURTH COUNCIL


COUNCIL BILL NO. F/S R-21-202 ENACTMENT NO. ________________________

SPONSORED BY: COUNCILORS BENTON AND DAVIS

RESOLUTION
title
F/S Approving The Petition Of The Regents Of The University Of New Mexico By And Through Lobo Development Corporation, A New Mexico Nonprofit Corporation Formed Under The Research Park And Economic Development Act, And The City Of Albuquerque, New Mexico For Formation Of The South Campus Tax Increment Development District (The "District" Or "TIDD") Pursuant To The Tax Increment For Development Act, Sections 5-15-1 Through 5-15-29, NMSA 1978 And City Council Ordinance, Chapter 4, Article 10; Making Findings In Connection With The Petition And Supporting Documentation Requesting Approval Of The Formation Of The TIDD; Determining The Real Property To Be Included Within The TIDD And The Purposes For Which The TIDD Is Being Formed; Approving The Joint Application, Petition, And Financial Feasibility Study For The TIDD; Ratifying The Tax Increment Development Plan Approved For Consideration In Connection With The Formation Of The TIDD; Dedicating 75% Of The Gross Receipts Tax Increment And 75% Of The Property Tax Increment Generated Within The Boundaries Of The District For The Financing Of Public Improvements For The TIDD, And Related Purposes Under The TIDD Act; Approving Parameters For The Issuance Of Tax Increment Bonds By The TIDD; Providing For Governance Of The TIDD Through The Appointment Of Members Of The Governing Body Of The TIDD; Providing That Tax Increment Bonds Of The TIDD And Other Obligations Of The TIDD Shall Not Be Obligations Of The City Of Albuquerque Or The University Of New Mexico; Ratifying Certain Actions Heretofore Taken; Repealing All Actions Inconsistent With This Resolution (Benton, Davis)
body
APPROVING THE PETITION OF THE REGENTS OF THE UNIVERSITY OF NEW MEXICO BY AND THROUGH LOBO DEVELOPMENT CORPORATION, A NEW MEXICO NONPROFIT CORPORATION FORMED UNDER THE R...