City of Albuquerque
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File #: O-22-50   
Type: Ordinance Status: In Council - Final Action
File created: 11/7/2022 In control: City Council
Final action:
Enactment date: Enactment #:
Title: Approving A Project Involving Craftworks, LLC Pursuant To The Local Economic Development Act And City Ordinance F/S O-04-10, The City's Implementing Legislation For That Act, To Support The Acquisition, Renovation, And Improvement Of A Beverage Manufacturing And Distribution Facility In Albuquerque, New Mexico; Authorizing The Execution Of A Project Participation Agreement And Other Documents In Connection With The Project; Making Certain Determinations And Findings Relating To The Project Including The Appropriation Of Funds; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Benton, by request)
Sponsors: Isaac Benton (By Request)
Attachments: 1. O-50
CITY of ALBUQUERQUE
TWENTY-FIFTH COUNCIL



COUNCIL BILL NO. O-22-50 ____ ENACTMENT NO. ________________________

SPONSORED BY: Isaac Benton, by request



ORDINANCE
title
Approving A Project Involving Craftworks, LLC Pursuant To The Local Economic Development Act And City Ordinance F/S O-04-10, The City's Implementing Legislation For That Act, To Support The Acquisition, Renovation, And Improvement Of A Beverage Manufacturing And Distribution Facility In Albuquerque, New Mexico; Authorizing The Execution Of A Project Participation Agreement And Other Documents In Connection With The Project; Making Certain Determinations And Findings Relating To The Project Including The Appropriation Of Funds; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Benton, by request)
body
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, pursuant to Sections 5-10-1 through 5-10-13 NMSA 1978, as amended (the "Act"), the City is authorized to provide economic development assistance to eligible entities for certain projects located within the corporate limits of the municipality; and
WHEREAS, pursuant to the Act, the City has adopted Ordinance No. F/S 04-10 (the "LEDA Ordinance"), approving an economic development plan for the City and authorizing the City to assist economic development projects in any legally permissible manner, subject to the terms of the LEDA Ordinance; and
WHEREAS, pursuant to the LEDA Ordinance, Craftworks, LLC (the "Company"), has submitted to the Council and the Albuquerque Development Commission (the "Commission") an application (the "Application") requesting certain economic development assistance for the acquisition, renovation and improvement of a beverage manufacturing and distribution facility for the Company, which will include the additi...

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