[NENA] city land lease share

[K Cunnar]

Dear NENA MEMBERS,

Lately, there have been requests from Developers on City Council to increase property taxes via TIDD's
to pay for storm drainage, power, other infrastructure.  This can make property less attractive to buy
with higher property taxes not to mention a burden on residents/homeowners.  ABQ Uptown has a TIDD
request before City Council and recently Suncal in the West Mesa passed City Council.  If any developer
requests TIDD's to develop in our area commercial and/or residential, then Nor Este Neighborhood certainly
has the right to know.   I have worked with governments in the past on projects that help creative funding
that is good for the community.  For example, instead of using TIDD's to pay for storm drainages, power,
sidewalks and other infrastructure, I would recommend a city land lease share.  In a city land lease deal,
a developer agrees to lease out part of the owned land for a certain time frame.  The city constructs
a project that benefits that community and offers to that community a free service for example, a free
Shakespeare in the Park outdoor theatre, mini putt putt golf, or a bike velodrome (for adults- not a BMX).
(Bike Velodrome, outdoor theatre and mini golf are all not elaborate and can be built for less than the 700,000
dollar study on the downtown arena.  The developer receives from a city bond a lump sum to cover costs
for infrastructure such as, storm drainage, power, sidewalks, landscape, etc...  At the end of the time frame (20 years), then the developer would receive the property back, so the property would return back to commercial use.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      The community during that 20 years receives a free service to go and hang out that is wholesome and environmentally friendly.  The city gets to build a project that benefits the community without having to purchase the land which can cost millions. 
If you google, land lease exchanges, then you would see how successful such exchanges are for the community, for the developer and for the city creating a win- win situation.  It is important to keep up to
date with developers in our area as it can raise property taxes to allow the current trend of TIDD's to 
continue.  



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