Limit Tax Increment Financing in Albuquerque's Fringe Areas

Have you been hearing the confusing terms "Tax Increment Financing" and "Tax Increment Development Districts" and wondering what all the fuss is about? It's a big fuss. Tonight, Councilors Benton, Cadigan and Garduno are hoping to pass a measure that would limit how this little monster can be applied in fringe areas of the city (i.e. SUNCAL's Westland property). If passed, the change could save tens of millions of taxpayer dollars from going to support big-time developers on the fringe.

Check out our post at 1000 Friends of New Mexico to get the skinny on what all this means. You can even send your council representative an email urging him/her to support this important bill. you should do it- it's fast and easy and sends a strong message that the community is tired of public dollars being used to prop up big corporate developers building sprawl in our backyard.

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Tags: Albuquerque, Development, Sprawl, SunCal, TIDD, TIF

Comment by Juan on April 21, 2008 at 4:29pm
This is great and is something that definitely needs to be done. There are more than enough brownfields in the city to be redeveloping and not be spending (or rather giving)that money to companies to promote sprawl development in greenfields. Kudos to these councilors.
Comment by bleve on April 21, 2008 at 4:44pm
The counselors wrote an op-ed in todays journal, you can read it on Garduno's Blog

Very important subject and I just sent O'Malley an email urging her to support this... thanks Gabriel for the heads up and I hope people tune in to Gov't tv to check it out... or better yet show up in person.
Comment by brendisimo on April 22, 2008 at 8:44am
any news on how it went last night?
Comment by bleve on April 22, 2008 at 8:58am
Development interests win again, on Earth Day let this be a rallying cry to get in conscious, community minded City Councilors next round...

Council Rejects Bill on TIDDs

"The council rejected the bill on a 5-4 vote, with Sanchez, Trudy Jones, Don Harris, Brad Winter and Sally Mayer voting against the measure. Garduño, Michael Cadigan, Isaac Benton and Debbie O'Malley voted for it."
Comment by PABLODIABLO on April 22, 2008 at 1:16pm
When will they get their heads out of their asses? Albuquerqe doesn't need more sprawl.
Comment by brendisimo on April 22, 2008 at 4:47pm
Huge mistake...I'm really disappointed in the lack of vision of some of our councilors.

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