This document describes the 2015 General Obligation Bond Program (G.O. bond program) prepared by Mayor Richard J. Berry and his staff, adopted by the Albuquerque City Council and placed on the ballot for final approval by the voters.
The G.O. bond program is one element of the City of Albuquerque’s Capital Improvement Program (CIP). The other main elements are summary tables for the 2015 General Fund 305 Projects, Aviation and Solid Waste Departments’ Enterprise Program Capital Improvement Revenue Bond Plans; the Component Capital Improvement Plan (CCIP) for the expenditure of impact fee revenue; the Consolidated Plan, also referred to as CDBG; and the Metropolitan Redevelopment Plan. Collectively, these plans are often referred to as the Capital Improvement Program (CIP) for the City of Albuquerque.
Major capital improvements traditionally have been funded primarily with general obligation and revenue bonds. Starting in 2005 capital funding for growth related projects has also been provided by impact fee revenues. In many cases funds described in this document leverage additional funding from either or both the Federal and State Governments. Matching funds include those that are received from the Federal Department of Transportation; Federal Aviation Administration; Environmental Protection Agency; Economic Development Administration; NM State Department of Transportation (NMDOT), The State Legislature and occasionally local special assessment districts.
G.O. Bonds and impact fees fund a host of capital improvements that directly affect the basic needs and quality of life of every Albuquerque resident. These improvements include critical police and fire facilities, vehicles and equipment; basic streets and storm drain improvements; public transportation improvements, including to the Rapid Ride; ongoing parks, recreational and open space facilities; cultural institutions including the Zoo, Aquarium, Botanic Gardens, Albuquerque Museum and others; and Senior and Community Centers. Revenue Bonds fund capital improvements to the Sunport, Double Eagle II Airport and to the Solid Waste Management and Disposal systems.
The planning process for preparation of the capital program is a collaboration among Mayor Richard J. Berry and his staff, the public, and the City Council. The process began in early 2014 with adoption by the City Council of a resolution establishing policies and criteria by which projects submitted for inclusion in the capital program were to be evaluated. Staff and senior management of the City of Albuquerque evaluated those projects and final recommendations were approved by the Mayor. The Mayor sent his recommended CIP to the Environmental Planning Commission (EPC), who held a public hearing on the program. EPC found that the program as presented conformed to the policies and criteria established by the City Council for preparation of the program. The City Council undertook an analysis of the capital program and conducted two public hearings before it was amended and adopted on March 2, 2015. The 2015 general obligation bond program will be placed on the ballot for voter consideration in the municipal election scheduled for October 6, 2015.
Mayor Richard J. Berry is pleased to present this Capital Program for the 2015 - 2024 timeframe.