Bernalillo County holds public forum on proposed tax-increment district for State Fairgrounds; vote set for March 11

Bernalillo County officials and state representatives outlined a proposal to form a tax increment development district, or TID, for the New Mexico State Fairgrounds at an informational meeting at Expo New Mexico on the evening of March 1. County staff said the TID, if formed and later authorized by the state, would capture a portion of new gross receipts and property tax revenue inside a defined boundary to pay for public infrastructure.

The proposal is at an early stage: the county commission introduced the TID and a formal county vote is scheduled for March 11, after which the Legislature would need to authorize bonding authority. "There is 0 decision about the state fair yet," Commissioner Adrienne, Bernalillo County commissioner for District 3, told the crowd, adding the meeting was intended to gather public input before the commission’s March 11 vote.

Marcos Gonzalez, executive development officer for Bernalillo County, described how the financing would work: a base year would be set (county staff identified 2023/2024 as the comparison baseline) and up to about 75% of the increment above that base could be used to repay bonds for public infrastructure. "The increments that are gonna be used in this is up to 75% of the…