City of Albuquerque - File #: O-24-51

• File #: O-24-51
• Type: Ordinance
• Status: Enacted
• File created: 10/21/2024
• In control: City Council
• Final action: 11/4/2024
• Enactment date: 11/15/2024
• Enactment #: O-2024-037
• Title: Approving A Project Involving Kairos Power, 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, Development, And Improvement Of Research And Development Facilities 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 (Rogers, by request)
• Sponsors: Nichole Rogers (By Request)

Date	Action By	Action	Result
11/15/2024	City Clerk	Published
11/6/2024	Mayor	Signed by the Mayor
11/6/2024	City Council	Sent to Mayor for Signature
11/4/2024	City Council	Passed	Pass
10/21/2024	City Council	Introduced
10/21/2024	President	To be heard at the Council Meeting

CITY of ALBUQUERQUE
TWENTY-SIXTH COUNCIL



COUNCIL BILL NO. O-24-51___ ENACTMENT NO. ________________________

SPONSORED BY: Nichole Rogers, by request



ORDINANCE
title
Approving A Project Involving Kairos Power, 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, Development, And Improvement Of Research And Development Facilities 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 (Rogers, by request)
body
APPROVING A PROJECT INVOLVING KAIROS POWER, 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, DEVELOPMENT, AND IMPROVEMENT OF RESEARCH AND DEVELOPMENT FACILITIES 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.
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...