Lien Forgiveness (Pilot Program)
The Metropolitan Redevelopment Agency (MRA), in partnership with the Planning Department, is piloting a Lien Forgiveness Program to encourage investment and redevelopment in key areas of Albuquerque (Note: The pilot is only available in the Near Heights MR Area at this time). This program aims to help eligible property owners and prospective buyers redevelop properties quickly by forgiving eligible City liens and their underlying fines—making it more financially feasible to revitalize underused or blighted properties.
What is Covered?
Only certain City liens, primarily those related to property maintenance and demolition are eligible under this program.
Not eligible: Non-City liens (e.g. property tax liens, utility liens)
Who is Eligible?
You may qualify if:
- You own or are looking to purchase a property within the Near Heights Metropolitan Redevelopment Area.
- You have a viable redevelopment plan.
- You can show proof of financial resources to complete the project.
- You have a demonstrated financial need, or the lien has made a property sale cost-prohibitive.
- You were not in possession of the property when the fines were incurred.
Program Terms
- Applicants must present a clear redevelopment plan and demonstrate financial readiness, such as:
- A bank balance covering project costs, or
- A pre-approved loan.
- If selected:
- The lien will be lifted up front (but not the underlying fine), to facilitate qualifying for a loan.
- The applicant will sign a development agreement committing to the terms of the project and timeline.
- The applicant must substantially complete the approved project within the timeline of the development agreement.
- Once verified, the underlying eligible fines will be forgiven.
- If the project is not completed on time, the lien will be reinstated.
How to Apply
-
Start with a phone screening.
Email [email protected] to set up a meeting time. Please include the property address in your email. -
Submit an application.
If you meet the initial criteria, you’ll be invited to apply. Applications are reviewed on a rolling basis.
Required Application Materials
To be considered, your application must include:
- A site plan and renderings
- A project timeline
- A detailed budget, including contractor estimates
- Proof of financial soundness:
- Bank statements (if paying in cash), or
- Loan pre-approval documentation
If the property is sold before project completion, the new owner will be subject to the original agreement, or have the liens reinstated.
Questions?
Contact us at 505-263-5376 or [email protected]. We're here to help.