(A) The City Council, after having conducted a public hearing, finds that:
(1) The Plan, and the proposed activities under the Plan, will aid in the elimination and prevention of blight; and
(2) The Plan affords maximum opportunity, consistent with the needs of the community, for the rehabilitation and redevelopment of the McClellan Park Metropolitan Redevelopment Area by private enterprise; and the objectives of the Plan justify the proposed activities as public purposes and needs.
(B) The McClellan Park Metropolitan Redevelopment Plan for the McClellan Park Metropolitan Redevelopment Area, Section III of the McClellan Park Plan, as amended, attached to Resolution No. 9-1984 and made a part hereof, is hereby approved in all respects.
(C) The McClellan Park Metropolitan Redevelopment Plan is a Rank III plan as specified in Ordinance 45-1982.
(D) Project II, National Bank of Albuquerque Building Project. The City Council, after having conducted a public hearing, finds that:
(1) The Project, “The National Bank of Albuquerque Building Project” will aid in the elimination and prevention of blight;
(2) The Project Plan does not require the relocation of any families and individuals from their dwellings; therefore, a method for providing relocation assistance is not required for the project;
(3) The Project Plan compliments the Albuquerque/Bernalillo Comprehensive Plan, the 1989 Downtown Core Revitalization Strategy and the plan affords maximum opportunity for the rehabilitation and redevelopment of the McClellan Park Metropolitan Redevelopment Area by private enterprise; and the objectives of the Plan justify the proposed activities as public purposes and needs.
(4) The Metropolitan Redevelopment Project II Plan of the McClellan Park Metropolitan Redevelopment Area is hereby approved in all respects.
(5) The Alternative Method of financing (Tax Increment) as provided by Sections 3-60A-19 to 3-60A-25, NMSA 1978, as amended is hereby in all respects approved, with the 1989 tax year being the base year. The specific source of the tax increment funds to which this section applies is more commonly known as the “National Bank of Albuquerque Building Project,” located at 111 Lomas Blvd. N.W., contained in the area of Plan II.
(6) A request to other applicable units of government which participate in property tax revenues for the affected area, for approval of the tax increment method, is hereby made.
(Res. 9-1984, approved 2-8-84; Am. Res. 225-1989, approved 12-28-89; Res. 2017-102, approved 11-13-17)
Cross-reference:
Moved from § 1-6-7
McClellan Park District Sector Development Plan, see § 1-7-24, repealed