Regular City Council Meeting
Return to the Search Page
Return to the Agenda
Item No. 8.
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)
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.
Costs for future actions is included in the attached contract with Bernalillo Country.
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.
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).
ATT 1 Professional Services Agreement Sherman & Howard
AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.