CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL
COUNCIL BILL NO. O-19-85
ENACTMENT NO.
O-2020-003
SPONSORED BY: Cynthia D. Borrego, by request
ORDINANCE
AMENDING THE METROPOLITAN REDEVELOPMENT AGENCY (MRA) ORDINANCE (SECTION 14-8-4-1 ET. SEQ.) TO INCLUDE IN ALL LEASE AGREEMENTS FOR METROPOLITAN REVENUE BOND FUNDED PROJECTS, AN ANNUAL FEE EQUIVALENT TO TEN PERCENT OF THE ANNUAL ABATED PROPERTY TAXES ON THE INCREMENTAL PROPERTY VALUATION, AND TO DIRECT THE DEPOSIT OF THE FEE INTO THE MRA ACCOUNT.
BE IT ORDAINED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
HCS Pub. February 14, 2020
