Old Town Moves Forward With Business Improvement District

ALBUQUERQUE – The City of Albuquerque Economic Development Department (EDD) is helping advance the creation of a business improvement district (BID) in Old Town, formalizing and strengthening the work already underway by businesses and property owners in one of the city’s most historic and visited neighborhoods.

EDD is investing $40,000 toward the BID creation process, with City Councilor Joaquin Baca securing an additional $10,000 to support the effort. Progressive Urban Management Associates (P.U.M.A.), the same consulting firm that helped jumpstart downtown Albuquerque’s BID, will facilitate the initiative.

The project will move forward in phases. Initial work will focus on project orientation, field work, database refinement, stakeholder engagement, and a feasibility assessment to determine whether the BID is viable and should proceed. If the feasibility assessment supports moving forward, later phases will focus on developing the management framework, base level of services, review workshops, BID fact sheet, petition materials, and campaign coaching support. Funding will be distributed as project milestones are completed, rather than all at once.

Business improvement districts are self-governed partnerships in which property owners pool resources to fund services and improvements that enhance economic vitality, safety, beautification, marketing, events, and public use. More than 1,000 BIDs operate across North America, helping upgrade commercial areas.

“Old Town is one of Albuquerque’s best examples of businesses and residents working together,” said Mayor Tim Keller. “This provides another boost to continue shaping Old Town’s future in a way that reflects its unique identity and importance to our city.”

The initiative follows the work of the downtown Albuquerque BID, an effort supported by the City’s Metropolitan Redevelopment Agency and private sector stakeholders.

“Our role is to help set the table and support the process, but ultimately these districts are strongest when businesses lead,” said EDD Director Max Gruner. “Old Town already understands that model, and this will help make it more sustainable and effective for years to come.”

"Old Town is one of Albuquerque's premier destinations and an important economic driver for our city. I am proud to support this effort, which will explore new ways for businesses and property owners to work together and invest in the historic district's continued success," said Councilor Joaquín Baca, District 2.

Under New Mexico law, establishing a BID requires support from at least 51% of affected property owners before proceeding through the formal approval process with Albuquerque City Council.

For more information about Albuquerque Economic Development initiatives, visit abqedd.com.