Mayor Timothy M. Keller
CITY OF ALBUQUERQUE
Albuquerque, New Mexico
Office of the Mayor
INTER-OFFICE MEMORANDUM Date: March 5, 2026
TO: Klarissa J. Peña, President, City Council
FROM: Timothy M. Keller, Mayor
SUBJECT:
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Approval of Real Estate Sales Agreement for 5511 Holly Ave NE
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The Department of Municipal Development is requesting that the Real Estate Sales Agreement for the above-referenced property be approved. The property is located within Bernalillo County, and it is zoned NR-C, contains .867 acres or 37,784 square feet of vacant land. The City acquired the property in 1994, as part of the Tracie Well Field Masterplan, as Well #3, and it has since been determined that the property is no longer required for use as a municipal well.
The property was declared not essential for municipal purposes on June 1, 2025, and no City Department has expressed interest in the property. On November 26, 2025, an RFB was issued for the appraised value of $310,000.00. The appraisal was dated May 11, 2025. Fincham Inc. was the only bidder and submitted a successful bid of $400,000.00.
Pursuant to Ordinance § 5-2-1, City Council approval is required for the real estate sales agreement and to proceed with the sale of the property.
Approved: Approved as to Legal Form:
3/9/2026 | 3:39 PM MDT
Samantha Sengel, EdD Date Lauren Keefe Date Chief Administrative Officer City Attorney
Recommended:
3/9/2026 | 1:32 PM MDT
Jennifer Turner, Director Date Department of Municipal Development