Council expected to consider $30 million bond for soccer stadium

The Albuquerque City Council is expected to consider multiple bills Monday night, including a proposal to approve a $30 million bond for the New Mexico United stadium and a proposal to approve a city-wide social media policy. City councilors may also vote on a bill to create review boards for tax increment financing districts. 

IRB for United stadium

Last year, the council voted to move forward with building a professional soccer stadium at Balloon Fiesta Park after several appeals to stop the construction of the project. On Monday, the council will consider securing more money for New Mexico United to seal the deal. 

The measure aims to approve a $30 million industrial revenue bond (IRB), which is a type of tax incentive for the project developer. Read more about bonds here. 

Economic Development Director Max Gruner said the lease for the project requires United to secure an IRB.

“Essentially all we’re doing is bringing them over the finish line…this stadium does indeed provide a positive economic impact, which is one of the prerequisites that we need to establish before we can even entertain an IRB,” Gruner said. 

Social media policy

The council approved a bill in November directing the city to create a social media policy for city employees that met certain guidelines. Now, Mayor Tim Keller’s office is asking the council to revert back to the city’s old policy that hasn’t been updated since 2022. 

Councilor Renée Grout originally sponsored a bill asking the city to revisit its policy after the council called out the Albuquerque Police Department for controversial social media posts. During a recent Finance and Government Operations Committee meeting, Chief Financial Officer Kevin Sourisseau told councilors that the city doesn’t need “a new policy” and the administration believes its existing policy “covers the elements requested” in the bill. But some councilors aren’t thrilled with the idea.

Councilor Louie Sanchez said he was not going to support the city’s policy because the council had a firm stance on what it wanted and “for the administration to just go out there and snub their nose at the council is extremely concerning to me.” 

Staci Drangmeister, a Keller spokesperson, told City Desk ABQ the administration feels like it addressed the council’s concerns. 

“We do feel like, in good faith, we were sharing back a policy that met what they were asking for,” Drangmeister said. 

TIF Boards

The council may also consider a bill — sponsored by Grout — that creates rules for oversight boards to oversee tax increment financing (TIF) districts. 

Tax increment financing is a method that uses a portion of either property or gross receipts taxes toward improvement projects in a certain area. Read more about the council approving TIF for Downtown here. 

The bill would direct districts that receive tax increment financing to create “TIF Boards” that would review projects and programs, with the justification that “transparency in the use of TIF funds fosters public trust and ensures that stakeholders are informed about the allocation and outcomes of tax increment revenues.”