About MRA

Information About The Metropolitan Redevelopment Agency.

Our mission: To make Albuquerque competitive in the global market by revitalizing downtown and the Central Avenue corridor, leading collaborative public-private partnerships that result in catalytic change, investing in sustainable infrastructure, and providing opportunities for local residents and businesses to thrive.

Our Vision: Albuquerque - New Mexico’s urban center is the Southwest’s premier mid-size city attracting economic investment and building a healthy and vibrant community that reflects our diversity, innovation, rich culture, and unique history. It is a city that ensures economic prosperity for all residents and where visitors dream to return.

Redevelopment Tools

Metropolitan Redevelopment Bonds

Metropolitan Redevelopment Bonds (MR Bonds) are a financing mechanism to support projects within Metropolitan Redevelopment Areas. Projects must meet the goals of the adopted Metropolitan Redevelopment Plan and result in the elimination or prevention of slum and blight, in accordance with NM Statute, Section 3 Article 60A. The City does not provide financing or credit enhancement for the bonds. The applicant is responsible for identifying the bond purchaser and negotiating the rates and terms. Metropolitan Redevelopment Bonds are taxable.

Metropolitan Redevelopment Bonds also provide a seven-year property tax abatement on the incremental property taxes. Property owners continue to pay the pre-development tax amount to the County Assessor. All land uses are eligible for a Metropolitan Redevelopment Bond, as long as the project is found by the City Council to meet the criteria described in this application.

Metropolitan Redevelopment Bond Application

Impact Fee Waivers

All projects located within a Metropolitan Redevelopment Area all eligible for a waiver of City of Albuquerque impact fees. This does not apply to Water or Sewer Impact Fee’s assessed by the Albuquerque Bernalillo County Water Utility Authority.

Brownfield Revolving Loan Fund (RLF)

The City of Albuquerque has an EPA Brownfields Revolving Loan Fund to issue low-interest loans to qualified developers. The program goal is to encourage the redevelopment of contaminated properties in our community. As repayments are made, the funds are revolved, enabling the Brownfield Program to provide additional loans to borrowers. Applications are accepted on an ongoing basis and loans are made based on the availability of funding. For more information view the documents below:

Additional Resources