TIDD – Tax Increment
Development District

The TIDD… in Albuquerque.

TIDD Corridor Overview

The tax-increment district, called a Tax Increment Development District “TIDD”, is an endeavor between Lobo Development and the City of Albuquerque to create a district for UNM South Campus. The district means that a portion of gross receipts and property taxes generated from future commercial development will be used to fund public improvements necessary to support such development, like streets, drainage, water& sewer lines, as well as transit improvements, trails and recreation facilities.

TIDD Key Benefits / Facts – 11/02/2021

South Campus Tax Increment Development District (TIDD)
November 2, 2021

Talking Points: Key Benefits / Facts

  • Formed by the City of Albuquerque on October 4, 2021
  • Public-public collaboration between UNM and the City to enhance community services, create new jobs and stimulate economic activity
  • Three-year (3) effort involving over 20 publicly-noticed meetings and hearings by UNM and the City… 9 within 2021 alone
  • Funds public infrastructure with public money, ie new tax revenue generated within the boundaries of the TIDD by new private business will be used to finance much needed public improvements
  • But for the TIDD, new private businesses would not locate or expand in the area or generate additional new tax revenue
    • Does not take revenue from current services or programs
    • No new taxes imposed
    • Is invisible to new business/taxpayers (does not appear on a tax bill)
  • Public improvements include:
    • Roads, water and sewer lines, and stormwater drainage
    • Public spaces and facilities (parks, plaza, pedestrian and bike paths, recreation fields)
    • Transit (University Blvd. route) and regional transportation (Interstate 25 improvements)
    • R&D job-creating facilities
    • Public safety (police substation and crime detection equipment)
    • Public parking structures
    • Energy conservation measures (solar)
  • Financial summary:
    • New City, County and State tax revenue supports public infrastructure to benefit the TIDD
    • TIDD bonds maximum life is 25-years from the date of issuance of the first bond
    • $336 million of newly created tax revenue for public improvements within the TIDD
      • New City tax revenue expected to generate $131 million for public improvements within the TIDD (dedicated portion approved by City)
      • New Bernalillo County and State of New Mexico tax revenue expected to generate $205 million for public improvements within the TIDD (dedication request pending)
    • $295 million of existing and newly created revenue generated within the TIDD retained for government use, including operations, maintenance, services, and facilities
      • $93 million of existing and newly created revenue expected to be retained by the City
      • $202 million of existing and newly created revenue expected to be retained by the County and the State
      • Existing and newly created revenue may be used for general purposes, including public safety, health, economic development
  • 4,450 new jobs expected to be created with over $3.0 billion in wages
  • Investment in public improvements and facilities is expected to facilitate $360 million in private investment
  • R&D buildings funded by TIDD revenues would be exempt from ad valorem property taxes, as would any other public buildings; however, these buildings, used to accommodate new jobs, would be funded by revenue generated by private enterprise rather than from taxpayer-generated capital outlay
  • Revitalizes an underutilized, unsightly portion of the City
  • Provides a commercial & employment “anchor” to the southern metro area
  • Builds on over $400 million in current public investment (UNM Science & Technology Park and UNM/City sports venues)

Thank you to our Partners

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