CITY of ALBUQUERQUE
TWENTY SIXTH COUNCIL
COUNCIL BILL NO. R-25-212 ENACTMENT NO. ________________________
SPONSORED BY: Joaqu?n Baca, by request
RESOLUTION
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Relating To The Approval Of A Redevelopment Tax Abatement For The 4th And La Plata Multi-Family Residential Development Project, Developed By 4th & La Plata, LLC (Baca, 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 New Mexico Metropolitan Redevelopment Code, Section 3-60A-l et seq. NMSA 1978 (the "MR Code"), confers certain powers upon the municipality to promote catalytic developments within areas that have been deemed blighted by the governing body of the municipality and authorizes the municipality to create a Metropolitan Redevelopment Agency (MRA) for the purpose of elimination or prevention of slum or blight; and
WHEREAS, pursuant to the MR Code, Sections 3-60A-12 through 3-60A-13.1, 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 well as exempt property from taxes, as defined in the Act; and
WHEREAS, the City desires to promote redevelopment in areas designated as blighted and contribute to neighborhood stabilization by providing housing, convenient services, job and business support, building upgrades, infrastructure and neighborhood beautification programs for such areas, and to promote the public health, welfare, safety, convenience, and prosperity; and
WHEREAS, the City Council (the "Council"), after notice and public hearing, as required by the Code, approved the North Corridor Metropolitan Redevelopment Area Plan (the "MR Area Plan"), Resolution R-20-62 (Enactment No. R-2020-071); and
WHEREAS, the Council adopted an ordinance establishing the Albuquerque Devel...
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