The Council finds the following:
(A) The City of Albuquerque, New Mexico desires to benefit from the Tax Increment for Development Act, Laws 2006, Chapter 75 (the "Act"); and
(B) A tax increment development district ("TIDD") provides a funding mechanism to finance construction, operation, and maintenance of public infrastructure within the boundaries of the TIDD, and to better enable the city to provide municipal services within the boundaries of the TIDD; and
(C) In order to permit the city to make a reasonable judgment as to whether or not to establish a TIDD and upon what terms, the city has established these policy guidelines and application procedures.
(Ord. 36-2006)