City of Albuquerque
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File #: R-21-225   
Type: Resolution Status: In Council - Final Action
File created: 12/6/2021 In control: City Council
Final action:
Enactment date: Enactment #:
Title: Approving A Form Of Master Development Agreement For Implementation Of The South Campus Tax Increment Development District; Repealing All Actions Inconsistent With This Resolution (Benton, Davis by request)
Attachments: 1. R-225
CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL


COUNCIL BILL NO. R-21-225 ENACTMENT NO. ________________________

SPONSORED BY: Isaac Benton and Pat Davis, by request


RESOLUTION
title
Approving A Form Of Master Development Agreement For Implementation Of The South Campus Tax Increment Development District; Repealing All Actions Inconsistent With This Resolution (Benton, Davis by request)
body
Capitalized terms in the following preamble shall have the meanings assigned in Section 1 of this Resolution, unless the context clearly requires otherwise.
WHEREAS, 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, owned, controlled and established by the Regents, and the City of Albuquerque, New Mexico, submitted to the City a Petition and joint application for the formation of the South Campus Tax Increment Development District, which includes, without limitation, a Tax Increment Development Plan for the District, a map depicting the boundaries of the District, a study of the feasibility, the financing and the estimated costs of improvements, services and benefits to result from the formation of proposed District and a proposed Master Development Agreement for the District; and
WHEREAS, the City Council considered the Application, the Formation Documents and related submittals by the Applicant, conducted a public hearing as provided by Sections 5-15-6 and 5-15-7 NMSA 1978, and has determined in Resolution Enactment F/S R-21-202, adopted on October 4, 2021 that the formation of the South Campus Tax Increment Development District is consistent with the TIDD Ordinance and promotes the interests, convenience or necessity of the owners and residents of the District and citizens of the City thus forming the Districts; and
WHEREAS, the City Council determined in the Formation Resolution that the City will ...

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