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Council approves TIF baselines for six MRAs and confirms a slate of board appointments
Summary
Las Cruces City Council on March 16 set baselines for six tax-increment financing (TIF) metropolitan redevelopment areas and approved related resolutions, then confirmed multiple airport and transit board appointments in unanimous roll-call votes.
Las Cruces City Council voted unanimously March 16 to establish monthly baselines and begin the process to capture tax-increment funding for six metropolitan redevelopment areas (MRAs), and later approved a series of board appointments.
Blair Flores, who presented on behalf of the city’s Economic Development Department, told the council the TIF approach would capture growth above an agreed baseline and dedicate up to 75% of that increment for up to 20 years to redevelopment within each MRA. Flores said the El Paseo/Solano baseline was set at $41,882.02 per month and the West Picacho/Motel Boulevard baseline at…
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