RESOLUTION
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Relating To The Redevelopment, Leasing And Sale Of A Metropolitan Redevelopment Project Within The Downtown Metropolitan Redevelopment Area Consistent With The Terms Of The Downtown 2025 Metropolitan Redevelopment Plan; Approving The Metropolitan Redevelopment Application Entitled "Villa Agave, LLC; The Downtown Metropolitan Redevelopment Application"; Authorizing The Acquisition Of Land And Existing Improvements And Construction Of A Building Within The Downtown Metropolitan Redevelopment Area; Authorizing The Disposition By Lease And Sale Of The City's Interest In Such Project To Villa Agave, 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 Resolution (Benton, by request)
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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, sell, lease, or otherwise dispose of, projects as defined in the Act; and
WHEREAS, the City Council (the "Council") has adopted an ordinance establishing the Albuquerq...
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