City councilors approved the sale of up to $100 million in Gross Receipts Tax Improvement Revenue Bonds on Monday. Bond money will be used for an assortment of projects throughout Albuquerque, including $15 million for the North Domingo Baca Aquatics Center, fully funding the $32 million project.
Councilor Brook Bassan thanked the council for approving the sale, which was passed unanimously, adding that her district is “very excited” to put tax dollars to work. The bonds will be paid for using gross receipts taxes, which will remain at the current 7.88% combined state, county and city sales tax rates.
Of the $100 million authorized for citywide projects, $20 million will go toward affordable housing. In addition to addressing affordable housing, the council also made it illegal for landlords to discriminate against persons using rental vouchers, as well as passing the amended Integrated Development Ordinance, which allows for safe outdoor spaces. Safe outdoor spaces are designated living areas for the homeless and unsheltered in Albuquerque.
Two safe outdoor spaces will be authorized in each of the city’s nine council districts.