City of Albuquerque - File #: O-26-36

• File #: O-26-36
• Type: Ordinance
• Status: Enacted
• File created: 5/27/2026
• In control: City Council
• Final action: 6/15/2026
• Enactment date: 7/2/2026
• Enactment #: O-2026-026
• Effective date: 7/22/2026
• Title: The Local Economic Development Act And City Ordinance F/S O-04-10, The City's Implementing Legislation For That Act, To Support The Expansion Of Eden Pharmaceuticals Compounding Pharmacy And Fulfillment Center To Be Located 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 (Bassan, by request)
• Sponsors: Brook Bassan (By Request)

Date	Action By	Action	Result
7/2/2026	City Clerk	Published
6/29/2026	Mayor	Signed by the Mayor
6/22/2026	City Council	Sent to Mayor for Signature
6/15/2026	City Council	Passed as Amended	Pass
6/15/2026	City Council	Amended	Pass
6/1/2026	City Council	Introduced
6/1/2026	President	To be heard at the Council Meeting

CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL



COUNCIL BILL NO. O-26-36 ENACTMENT NO. ________________________

SPONSORED BY: Brook Bassan, by request


ORDINANCE
title
The Local Economic Development Act And City Ordinance F/S O-04-10, The City's Implementing Legislation For That Act, To Support The Expansion Of Eden Pharmaceuticals Compounding Pharmacy And Fulfillment Center To Be Located 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 (Bassan, by request)
body
APPROVING A PROJECT INVOLVING EDEN PHARMACEUTICALS, 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 EXPANSION OF EDEN PHARMACEUTICALS COMPOUNDING PHARMACY AND FULFILLMENT CENTER TO BE LOCATED 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 (the "LEDA Ordinance"), approving an econom...