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Commission approves multiple housing funding and tax‑exemption actions; commissioners debate developer subsidies
Summary
Bernalillo County approved bond amendments, tax‑exemption notices and financing extensions on Oct. 14 to preserve and expand hundreds of affordable housing units, while commissioners debated whether tax abatements for large developers strike the right balance between increasing supply and giving away future tax revenue.
Bernalillo County approved several measures intended to preserve and expand affordable housing across the county, including project revenue bond amendments, tax‑exemption notices and extensions. The actions cover projects on the West Side and in the Southeast area and will fund rehabilitation and new construction that county staff say will add and preserve hundreds of affordable units.
Key measures approved or moved forward at the Oct. 14 meeting included: - Casitas del Camino: amendment to increase project revenue bond amount to $20 million (increase to cover construction cost escalation); motion approved (transcript: passed 5–0). - West Mesa Ridge A: extension of project revenue bond/ordinance to permit project closing and continued financing; motion approved (transcript: passed 5–0). - Ventana Ranch Apartments (Notice of Intent): 4% LIHTC rehabilitation proposal…
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