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<DIV>Dear NENA MEMBERS,</DIV>
<DIV> </DIV>
<DIV>Lately, there have been requests from Developers on City Council to
increase property taxes via TIDD's</DIV>
<DIV>to pay for storm drainage, power, other infrastructure. This can make
property less attractive to buy</DIV>
<DIV>with higher property taxes not to mention a burden on
residents/homeowners. ABQ Uptown has a TIDD</DIV>
<DIV>request before City Council and recently Suncal in the West Mesa passed
City Council. If any developer</DIV>
<DIV>requests TIDD's to develop in our area commercial and/or residential,
then Nor Este Neighborhood certainly</DIV>
<DIV>has the right to know. I have worked with governments in the past on
projects that help creative funding</DIV>
<DIV>that is good for the community. For example, instead of using TIDD's
to pay for storm drainages, power,</DIV>
<DIV>sidewalks and other infrastructure, I would recommend a city land lease
share. In a city land lease deal,</DIV>
<DIV>a developer agrees to lease out part of the owned land for a certain time
frame. The city constructs</DIV>
<DIV>a project that benefits that community and offers to that community a free
service for example, a free</DIV>
<DIV>Shakespeare in the Park outdoor theatre, mini putt putt golf, or a bike
velodrome (for adults- not a BMX).</DIV>
<DIV>(Bike Velodrome, outdoor theatre and mini golf are all not elaborate and
can be built for less than the 700,000</DIV>
<DIV>dollar study on the downtown arena. The developer receives from a
city bond a lump sum to cover costs</DIV>
<DIV>for infrastructure such as, storm drainage, power, sidewalks, landscape,
etc... At the end of the time frame (20 years), then the developer would
receive the property back, so the property would return back to
commercial
use.
The community during that 20 years receives a free service to go and hang
out that is wholesome and environmentally friendly. The city gets to build
a project that benefits the community without having to purchase the land which
can cost millions. </DIV>
<DIV>If you google, land lease exchanges, then you would see how successful such
exchanges are for the community, for the developer and for the city creating a
win- win situation. It is important to keep up to</DIV>
<DIV>date with developers in our area as it can raise property taxes to allow
the current trend of TIDD's to </DIV>
<DIV>continue. </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
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