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Commission opens the door to State Fairgrounds redevelopment, approves intent to form tax‑increment district
Summary
The commission approved an administrative resolution declaring the county’s intent to form a State Fairgrounds Tax Increment Development District. Commissioners and staff emphasized community engagement and coordination with the state master‑planning process; final formation and financing details will return to the board in March.
Bernalillo County commissioners voted unanimously on Jan. 28 to adopt an administrative resolution declaring the commission’s intent to form a State Fairgrounds Tax Increment Development District (TID). The resolution begins a multi‑step process and schedules the final formation resolution for the March 11 meeting.
Why it matters: The state and county have discussed reuse of the State Fairgrounds property for years. A TID is a financing tool that captures future incremental property tax growth in a defined…
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