Regular City Council Meeting


Print

Return to the Search Page Return to the Agenda
  Item No. 8.       
Meeting Date: 03/12/2020  
COMMITTEE: Legal  
CONTACT: Aaron Holloman CHAIR: Judy Stubbs

ACTION REQUESTED:
Consider approval of a Professional Service contract with the legal firm of Sherman & Howard for the preparation of Tax Increment Development Districts (TIDD) and Public Improvement Districts (PID). (Stubbs/Morris)
BACKGROUND:
Initiated by: Bill Morris

Bernalillo County for the process of developing and implementing TIDDs and PIDS in that      County. The primary use of these economic development tools is to allow for self-financing of infrastructure placement for specific geographic areas, specifically the Old Municipal Airport and the Railroad District Metropolitan Redevelopment Area (MRA). This professional service will allow the City to proceed with the drawing up the TIDD and PID documents. Note: for space concerns, relevant portions of the applicable agreement are included; for the full agreement, staff will be happy to provide upon request.
FINANCIAL CONSIDERATION
Costs for future actions is included in the attached contract with Bernalillo Country.
LEGAL REVIEW:
The City Attorney has reviewed the agreement.
BOARD AND COMMITTEE ACTION:
The Legal Committee recommended (3-0) approval at their meeting on February 27, 2020.
STAFF RECOMMENDATION:
Consider approval of a Professional Service contract with the legal firm of Sherman & Howard for the preparation of Tax Increment Development Districts (TIDD) and Public Improvement Districts (PID).
Attachments
ATT 1 Professional Services Agreement Sherman & Howard


    

Level double AA conformance,
                W3C WAI Web Content Accessibility Guidelines 2.0

AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.