The following definitions apply to the Economic Development Plan Ordinance:
ALBUQUERQUE LEGACY COMPANY. A company that has been determined by the Albuquerque Development Commission to be culturally significant and vested in Albuquerque such that there is little risk of the company leaving Albuquerque.
CULTURAL FACILITY. A facility that is owned by the state, a county, a municipality or a qualifying entity that serves the public through preserving, educating and promoting the arts and culture of a particular locale, including theaters, museums, libraries, galleries, cultural compounds, educational organizations, performing arts venues and organizations, fine arts organizations, studios and media laboratories and live-work housing facilities.
ECONOMIC DEVELOPMENT PROJECT. The provision of direct or indirect assistance pursuant to the Local Economic Development Act to a qualifying business and includes the purchase, lease, grant, construction, reconstruction, improvement or other acquisition or conveyance of land, buildings or other infrastructure; public works improvements essential to the location or expansion of a qualifying business; payments for professional services contracts necessary for local or regional governments to implement a plan or project; and payments to a qualifying business pursuant to § 2-14-1-4(C).
PROJECT PARTICIPATION AGREEMENT. An agreement between a qualifying entity and the city whereby the city provides assistance to an economic development project in exchange for the benefits received as set forth in §§ 2-14-1-1 et seq.
QUALIFYING ENTITY. A corporation, limited liability company, partnership, joint venture, syndicate, association or other person that is one or a combination of two or more of the following:
(1) An industry for the manufacturing, processing, or assembling of any agricultural or manufactured products;
(2) A commercial enterprise for storing, warehousing, distributing or selling products of agriculture, mining or industry, but not including any enterprise for sale of goods or commodities at retail or for the distribution to the public of electricity, gas, water or telephone or other services commonly classified as public utilities, except as provided by subsection (5) of this definition;
(3) A business in which all or part of the activities of the business involves the supplying of services to the general public or to governmental agencies or to a specific industry or customer, but, other than as provided in subsection (5) of this definition, not including businesses primarily engaged in the sale of goods or commodities at retail;
(4) An Indian tribe or pueblo or a federally chartered tribal corporation;
(5) A telecommunications sales enterprise that makes the majority of its sales to persons outside New Mexico;
(6) A facility for the direct sales by growers of agricultural products, commonly known as farmer's markets;
(7) A business that is the developer of a metropolitan redevelopment project; or
(8) A cultural facility.
(Ord. 33-2004; Am. Ord. 2017-026; Am. Ord. 2023-007)