Bernalillo County commissioners Tuesday will consider initial steps toward possible redevelopment of the New Mexico state fairgrounds.
The state government is asking county officials to create a tax increment development district centered on the fairgrounds. The county could issue bonds to pay for infrastructure improvements and a portion of gross receipts taxes or property taxes collected within the district would be used to pay off the bond debt.
Those improvements could include roads, drainage systems and water treatment.
New Mexico Gov. Michelle Lujan Grisham last month announced the state would seek proposals for a master plan to redevelop the 236-acre midtown Albuquerque site. She said the site could include housing or a new arena suitable for hosting large-scale concerts and special events.
Commissioners on Tuesday are expected to vote on whether to authorize the publication of notices of a public hearing regarding the proposed formation of the special district. If they approve, the hearing will take place in 30 to 60 days.
Commissioner Barbara Baca has proposed a resolution that calls for county administration to develop a plan for establishing a “housing development services” division.
The division would oversee the identification, acquisition, funding, construction and related aspects of affordable housing in Bernalillo County. County Manager Cindy Chavez would be asked to bring recommendations to the board at the Feb. 25 meeting.
One aspect of the resolution is a decision to either increase staffing or solicit professional services for addressing the housing crisis. Housing New Mexico, formerly the New Mexico Mortgage Authority, predicts the county will need 28,000 additional housing units by 2035 to meet its demand, including 4,900 units of affordable housing.
Commissioners will also conduct a public hearing on whether to adopt a low-income property tax rebate.
If the legislation is adopted, a taxpayer (or married couple) with a modified gross income of $24,000 or less would be eligible for a rebate of up to $350. The board will vote on introducing an ordinance to adopt the rebate. If it approves, the matter will be brought back for adoption at the Feb. 11 meeting.
HOW TO PARTICIPATE:
WHEN: 5 p.m. Tuesday
WHERE: Ken Sanchez Commission Chambers in BernalilloCounty@Alvarado Square, 415 Silver Ave SW VIRTUAL: GOV-TV, on the county’s website or on Bernalillo County’s YouTube channel.