SWOPblogger

Opponents of how tax increment development districts (TIDDs) are structured in New Mexico plan to take their concerns to the state this January during the legislative session in the hopes of changing how the economic development tools can be used.

New Mexico Voices for Children, which has been among the groups opposing the use of TIDDs by SunCal Cos. in its large, mixed used development on Albuquerque's westside, wants to change the enabling legislation that passed in 2006 to allow the creation of TIDDs.

The nonprofit sides with 1,000 Friends of New Mexico and the Southwest Organizing Project in their opposition to the use of these tools to develop projects on the city's fringe. So it will seek to limit the use of TIDDs in greenfield development. But its primary concern is the potential impact of TIDDs on the state's general fund if more such projects begin popping up across the state, said Gerry Bradley, research director of Voices for Children.

"We want to go back and say that the state share of gross receipts tax should not be taken out of the state general fund and given to the TIDD," Bradley said. "So we would delete that portion of the statute."

mkamerick@bizjournals.com | 348-8323

Labels: Albuquerque City Council, Campaign for a Better New Mexico, county commissioner, State Legislature, TIDD, TIF

# posted by karlos @ 11:57 PM