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City Leaders Boast Benefits of Bond Proposal

City Councilors Brook Bassan and Klarissa Peña are sponsoring the legislation, O-21-84.

December 2, 2021

Today, City Councilors Brook Bassan and Klarissa Peña with City Leadership shared the benefits of approving O-21-84, which authorizes using $110 million in tax revenue bonds for capital projects that focus on public safety, housing, and parks and recreational facilities throughout the City of Albuquerque. The City Council is set to vote on the legislation at their upcoming meeting on Monday, December 6th.

Councilors were joined by City leaders including Finance and Administrative Services Director Renee Martinez, APD Deputy Chief Jon Griego, AFR Deputy Chief Nathan Meisner, and Family and Community Services Deputy Director Lisa Huval.

Bond Proposal O-21-84 Press Conference

“Approval of this bond money would be an enormous step to getting vital City projects done,” said Councilor Bassan. “These are projects that myself, my fellow Councilors, and the Administration have been fundraising for and working to complete.”

This proposal uses the same source of funding that was proposed for the soccer stadium bond question on the municipal election ballot, which ultimately failed. Many critics of the soccer stadium proposal noted that the funding could be used for housing needs, community centers and benefits, substance abuse resources, and public safety. After the stadium proposal failed, City Councilors Brook Bassan and Klarissa Peña crafted this proposal with all that feedback in mind.

“These funds will be used to finish projects that will be beneficial to large numbers of City residents,” said Councilor Peña. “Funds will be used for housing, public safety facilities, community centers, and recreational facilities.”

If approved, the bonds will be sold, and the funding would be available around February 2022. The bonds would be paid back over 19 years.

O-21-84 will be on the agenda for final action at the December 6, 2021, City Council Meeting. Due to the legislation approving sale of gross receipt tax revenue bonds, seven Councilors voting for approval are needed for passage.

Projects in the proposed legislation include:

Public Safety - $38.9 million

  • Police Department Main Building - $12.5 million
  • Police Department Academy - $5 million
  • Southeast Area Command Phase 2 - $4.4 million
  • San Mateo and Kathryn Public Safety Center - $7 million
  • Westside Public Safety Facility - $10 million

Housing - $25.6 million

  • For acquiring, improving, and equipping housing facilities, including a sobering center.

Parks, Open Space, and Recreational Facilities – $45.5 million

  • City Buildings - $5 million
  • Los Altos Pump - $3 million
  • Civic Plaza Awning - $2 million
  • Cibola Loop Multigenerational Center - $10 million
  • Westgate Community Center - $4 million
  • North Domingo Baca Aquatic Center - $12 million
  • Loma Linda Community Center - $4 million
  • Westside Recreational Fields - $3 million
  • Phil Chacon Park - $1.5 million
  • Westside Indoor Recreational Complex - $1 million