The Albuquerque Journal is reporting today that New Mexico critics of a plan to subsidize SunCal with $408 million of tax revenues for their West Mesa project are asking why a state analysis of the deal omitted major concerns that were documented last year. Here in Alameda, SunCal has indicated that they will seek [...]
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Digging further into the article on SunCal and their attempt to sway New Mexico state legislators into a $408 million infrastructure subsidy for their West Mesa project in Albuquerque, we found this website on New Mexico Tax Increment Development Districts with a delightful name. [...] Foreshadowing what’s to come in Alameda, New Mexico residents and legislators are being blitzed with TV ads and showered with cash to urge them to approve a $408 million tax-increment subsidy for SunCal for their West Albuquerque project. In Alameda, SunCal has said that they will seek tax-increment financing to subsidize their estimated $700 million [...] A freshman state senator in New Mexico is pushing to limit the subsidies that the state can grant developers through tax-increment financing, a.k.a. “redevelopment.” SunCal is lobbying for $408 million of redevelopment subsidies in New Mexico, and will soon be lobbying for subsidies here in Alameda, where they say it will cost $700 million to [...] Here’s a sneak preview of what we can expect from SunCal as we get closer to the November ballot and their attempt to change Measure A. SunCal may be violating New Mexico state lobbyist laws with their TV ads and highway billboards pushing legislators to approve over $400 million in state tax-increment financing to subsidize [...] |
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