City of Albuquerque - File #: R-21-225

• File #: R-21-225
• Type: Resolution
• Status: Enacted
• File created: 12/6/2021
• In control: City Council
• Final action: 1/19/2022
• Enactment date: 2/7/2022
• Enactment #: R-2022-009
• 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)

Date	Action By	Action	Result
2/7/2022	City Clerk	Published
2/1/2022	Mayor	Signed by the Mayor
1/26/2022	City Council	Sent to Mayor for Signature
1/19/2022	City Council	Passed	Pass
12/20/2021	City Council	Postponed	Pass
12/6/2021	City Council	Introduced
12/6/2021	President	To be heard at the Council Meeting

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
APPROVING A FORM OF MASTER DEVELOPMENT AGREEMENT FOR IMPLEMENTATION OF THE SOUTH CAMPUS TAX INCREMENT DEVELOPMENT DISTRICT; REPEALING ALL ACTIONS INCONSISTENT WITH THIS RESOLUTION.
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 ...