ALBUQUERQUE BERNALILLO COUNTY
WATER UTILITY AUTHORITY
BILL NO. R-23-41 |
RESOLUTION
t
Approving, subject to review and approval by the New Mexico Board of Finance, the sale of 25.38? acres of the surplus property located at the southwest corner of 2nd Street and Rio Bravo Boulevard at current appraised value along with an option to purchase the remaining 72.6? acres at a later determined purchase price consisting of the appraised value applicable at the time the option is exercised
b
WHEREAS, the Albuquerque Bernalillo County Water Utility Authority (Water Authority) owns 97.98? acres of undeveloped land at the southwest corner of 2nd Street and Rio Bravo Boulevard adjacent to the Southside Water Reclamation Plant (SWRP); and
WHEREAS, the current use of the parcel as leased agricultural land is no longer consistent with the more suburban neighborhood uses in the area; and
WHEREAS, the parcel is not a suitable or economically feasible site for the expansion of the SWRP or other Water Authority infrastructure; and
WHEREAS, on May 16, 2022, the Water Authority Governing Board declared the property at 2nd Street and Rio Bravo Boulevard surplus and directed that it be disposed of by a public process which maximizes the return for the Water Authority for use in its capital improvement program: and
WHEREAS, in compliance with the Board's Resolution, the Executive Director negotiated a sales agreement which proposed to convey the entire property to YES Housing, a non-profit developer, ("Purchaser") to use the site for development to include affordable housing; and
WHEREAS, the sales agreement allowed that before closing the purchase, the Purchaser could perform a feasibility analysis which revealed that it would not be presently feasible to carry out Purchaser's intended use of the westernmost 72.6? acres generally lying west of the Barr Canal, due to the phasing schedule for roadway improvements to Rio Bravo Blvd...
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