Skip to main content

Development Incentives

Information about development incentives through The Metropolitan Redevelopment Agency.

MRA Toolkit for Developers Webinar

The Metropolitan Redevelopment Agency (MRA) partners with private developers to build vibrant communities in downtown Albuquerque and along the Central corridor. We have several incentive programs to catalyze investment in our community. MRA hosted a webinar on November 16, 2022 to discuss our incentive programs and how you can benefit from them!

Property Incentives for Developers

MRA offers property incentives to developers with projects in a Metropolitan Redevelopment Area. View a summary of the property incentives MRA has to offer. 

Albuquerque Multi-Family Market Profile

Are you interested in developing or investing in a multi-family project in Albuquerque?  View our Multi-Family Market Profile which provides an overview of our market, recent employment growth, and our incentive programs.


Metropolitan Redevelopment Tax Abatement

The purpose of the Redevelopment Tax Abatement program is to attract private investment and revitalize divested areas within Albuquerque. The City seeks to stimulate high quality, sustainable development projects that provide tangible community benefits. Projects must meet the goals of the applicable Metropolitan Redevelopment Plan and result in the elimination or prevention of slum and blight, in accordance with NM Statute, Section 3 Article 60A.

The Redevelopment Tax Abatement (RTA) is a seven-year property tax abatement on the incremental property taxes for all taxing districts. Property owners continue to pay the pre-development property tax amount as a Payment In Lieu of Taxes to the County Assessor. To receive the tax abatement, the City must take title to the property and the property is leased back to the original owner for the duration of the tax abatement period.  Projects must achieve a minimum of 100 points on the community benefits matrix. This matrix reflects the City’s priority on sustainability, community benefit, placemaking, and equity.

The instructions and appendices have been updated as of May 2023.

Impact Fee Waivers

All projects located within a Metropolitan Redevelopment Area are eligible for a waiver of City of Albuquerque impact fees. This does not apply to Water or Sewer Impact Fees 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

Other City and State Development Incentives

The City of Albuquerque's Economic Development Department offers a range of incentives and technical assistance, including LEDA grant funds and Industrial Revenue Bonds. For more information, visit their website.

View an interactive map of Opportunity Zones in New Mexico

For more information on Opportunity Zones, visit the State of New Mexico's NM Opportunity Zone Hub