Council OKs $115M capital projects package

Albuquerque city councilors approved a $115 million package of capital projects late Monday that includes $1.5 million to get started on an economic-development project centering on a partnership with the University of New Mexico.

The proposal also substantially trims the amount of money that could be available for “ABQ: The Plan,” an initiative of Mayor Richard Berry.

The bill, approved on a 7-2 vote, now goes to Berry. If he approves, the projects will go on the ballot as a series of bond questions in the October city election. If not, councilors can attempt to override his veto.

Under changes approved Monday:

The money is expected to go toward an effort modeled on Innovation Square in Florida, a joint venture among the University of Florida, government and private sector that combines research, technology and private enterprise in one big development.

Under changes proposed by Councilor Brad Winter, and supported by Berry, the budget, at one point, was to include $2 million for the project. But councilors later voted 6-3 to trim the amount to $1.5 million and use the extra $500,000 to add to affordable-housing efforts.

The move to reduce it from $2 million to $1.5 million was backed by Ken Sanchez; Isaac Benton; Brad Winter; Rey Garduño, who sponsored it; Michael Cook; and Trudy Jones. Opposed were Dan Lewis, Don Harris and Roxanna Meyers.

The project could involve the First Baptist Church site at Central and Broadway, on the eastern edge of Downtown.

In the end, the capital budget was approved on a 7-2 vote, with Winter and Cook in dissent.

This year’s capital budget is substantially smaller than usual. Two years ago, the city proposed about $164 million in projects.

The slimmed-down total this year is due, in part, to decisions over the past decade to take property-tax revenue normally earmarked for capital projects and use it instead to help prop up the operating budget. A 4 percent drop in property values since 2009 is another factor.

“It’s been a real sacrifice for everybody,” Sanchez said. “There’s just no way to fulfill the needs of this community.”
— This article appeared on page C1 of the Albuquerque Journal