(A) The Downtown Albuquerque Business Improvement District (the "improvement district") is created, as provided for by the Business Improvement District Act, Sections 3-63-1 to 3-63-16 NMSA 1978 (the "Act").
(B) The boundaries of the district generally include: Marble and Slate Avenues to the north; railroad tracks to the east; Coal Avenue to the south; 5th, 6th and 10th Avenues to the west, and are more particularly defined in the business improvement district plan. Council may approve the addition of contiguous areas to the improvement district boundaries, upon a recommendation of the management committee of the improvement district in conformance with the business improvement district plan.
(C) An improvement district benefit fee (the "benefit fee") shall be assessed against the real property parcels (the "non-excluded parcels") within the boundaries of the improvement district, excluding residential real property, real property parcels owned by non-profit corporations, and real property parcels owned by the government, as otherwise identified on Exhibit B to Ord. 38-2000.
(D) Improvement district services shall be budgeted for and provided on a calendar year basis, commencing January 1, 2001, and continuing each year thereafter until termination of the improvement district.
(E) The improvement district shall operate continuously, subject to Council review every five years, as required by law. Notwithstanding:
(1) the Council reserves the right to terminate the existence of the improvement district at anytime, upon receipt of a petition for termination, signed by not less than 51% of the district property owners, who represent not less than 51% of the assessed property value of the district, and
(2) the year ten Council review shall require, as a condition to the existence of the improvement district, the submission to the Council of a petition for reaffirmation and continuance signed by at least 51% of the real property owners comprising at least 51% of the total real property owners in the proposed district, exclusive of any real property owned by the United States or the state or any of its political subdivisions, and subsequent compliance with the Creation by Petition procedures of the Act of the State of New Mexico.
(Ord. 38-2000)