Latest news with #RenéeGrout
Yahoo
28-04-2025
- Business
- Yahoo
Here's how Albuquerque used the $23 million Housing Forward Fund
Apr. 27—The city of Albuquerque in recent years spent about $23 million on affordable housing projects, which included a costly staircase repair, motel conversions and seed money for commercial-to-housing transformations of iconic Albuquerque towers. A funding review presented to the Albuquerque City Council last week highlighted how the Housing Forward Fund, created in 2022 and 2023, was spent, even as some councilors questioned why a significant portion of the fund was used for maintenance. Like much of New Mexico, Albuquerque is struggling with an affordable housing crisis, a major contributor to homelessness. A 2024 Denver-based Root Policy Research report, titled "Albuquerque Region Housing Needs Assessment," found a significant shortage of units for low-income renters. Additionally, the report found that residents were spending more than a third of their monthly income on housing and that occupied units, such as apartments and single-family homes, often had more residents than rooms available. In 2022, Mayor Tim Keller announced "Housing Forward ABQ," intending to grow the city's affordable housing stock by 5,000 units. As part of the initiative, the Mayor's Office sought to convert motels into housing and reform zoning laws. That same year, the City Council appropriated $20 million of gross receipts taxes for the Housing Forward Fund. The following year, the council added another $3 million to the fund. Most of the money has been spent. The council questioned spending $3.3 million to renovate a stairway at the Beach Apartments . "Three-point-three million is a lot of money to fix stairs," Councilor Renée Grout said during the meeting, adding that she thought the costly repair should've been avoided. The Beach Apartments, in the 2500 block of Tingley Drive SW, were built in 1984 and acquired by the city in 1991. The apartments contain 74 units. Residents in 23 units were removed so that construction could occur. The report noted that the affected residents were "given proper notification and relocation benefits." "The particular architect, although a famous architect and really good in terms of designs, created some structural issues," said Joseph Montoya, deputy director for Health, Housing and Homelessness. "So what they did is they created a stairway case that was actually attached to the structure itself and then covered everything up." Montoya said the staircase was necessary because it played a foundational role in the building's structure. He added that the repairs were ongoing. Conversions were another major highlight of the report. For example, the fund was used to convert SureStay Motel into the Los Altos Lofts, 10330 Hotel Ave NE. The report noted that the property near Los Altos Park was acquired in 2023 for $5.7 million, funded by a combination of state and federal grants. The city then contributed about $6.1 million from the Housing Forward Fund for construction . The Los Altos Lofts now contain 90 affordable housing units with kitchenettes and a swimming pool. Montoya told councilors the project has no debt and operates off of revenue generated from tenants. As of February 2024, the report found that 95% of the units have been leased. While the SureStay Motel conversion was successful, the conversion of the former Quality Suites in the 1500 block of Gibson SE failed. In 2024, the city planned to purchase the property for $5.3 million from the Housing Forward Fund and sent an offer letter to the property owners. The report stated the property was attractive to the city due to its large units and kitchenettes. "However, during its inspections, there were considerable environmental, structural and system concerns that made the project cost-prohibitive to move forward," the report stated. Ultimately, the city only spent $6,600 on the inspection. The Housing Forward Fund was also used for the West Mesa Ridge A in the 700 block of Coors NW. Once complete, this mixed-use development will have 128 affordable housing units. Approximately $3 million was allocated to redevelopment efforts aimed at converting iconic commercial buildings, such as the Lomas Tower and the Two Park Central Tower, into rental units. Earlier this year, the City Council allocated $1.5 million to improve the energy efficiency of the city's 594 units across eight apartment communities. The city used $776,638 for overhead costs.
Yahoo
08-04-2025
- Business
- Yahoo
Albuquerque Mayor, City Council disagree on use of opioid settlement funds
ALBUQUERQUE, N.M. (KRQE) – Albuquerque will get millions of dollars in opioid settlements funds over the next decade, but the latest decision over what to do with some of that funding has sparked disagreement between the mayor and city council. The Keller Administration is pushing for city council to change its proposal. The mayor wants more spent on existing programs, while some councilors want to see other non-profits get access to money. Story continues below Crime: APD arrests mother for shooting death of 2-year-old son Community: Westside Albuquerque rallies around Cup of Cozy after robbery National: Trump threatens additional 50 percent tariff on China 'The administration needs to know how they're going to fund these operations, not just one year at a time, so we need a plan, we haven't seen a plan,' said Renée Grout, Albuquerque City Councilor. That's what she said is driving city councilors plan on where to spend millions in opioid settlement funds. 'I think it's really balanced plan that does meet what the community told us what they wanted, which was those non-profits to be taken care of,' said Tamy Fiebelkorn, Albuquerque City Councilor. Meanwhile, Mayor Tim Keller's Administration is urging councilors to change their plan for roughly $14 million, saying the bulk of that money should go into existing programs like Serenity Mesa. 'I would hope that this money that Serenity Mesa would have an opportunity to apply for some of this funding, there's a lot of providers, really good providers in Albuquerque,' said Jennifer Burke, Serenity Mesa. Councilors' current plan calls for $1.8 million for Albuquerque Public Schools' substance abuse prevention for school kids, while another $2 million would go toward smaller and medium-sized service providers. But the bulk of the money, $10 million, would go toward infrastructure grants for non-profits to expand. 'Nowhere in this resolution or the attachment does it say about building a new building, because no one I spoke to at any point in the last year and a half has said they wanted a new building,' said Councilor Fiebelkorn. Facing uncertainty in the federal grant process, city administrators said now is the time to fund existing programs. 'If we wanted to bring on a new provider or expand our use of someone like Serenity Mesa, we currently can't do that because there is 10 million dollars locked away for three years for capital investment, capital projects, and buildings,' said JR Rael, Executive Operations Officer, City of Albuquerque. City councilors are expected to vote on that resolution Monday night. If it passes, the mayor will ultimately have to decide if he'll sign or veto the plan. Albuquerque has already spent more than $18 million in opioid funds of the roughly $80 million they're expected to get over the next decade, including about $5 million on a pallet home community near Comanche Rd. and I-25. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-02-2025
- Business
- Yahoo
City Council amends policy around tax increment financing
Feb. 4—The Albuquerque City Council on Monday approved a measure aimed at increasing transparency, providing clear outcomes and creating new plans for tax increment financing in metropolitan redevelopment areas. The bill, sponsored by Councilor Renée Grout, passed on a 6-3 vote. Councilors Joaquín Baca, Tammy Fiebelkorn and Nichole Rogers voted against it. Tax increment financing, or TIF, is an economic development tool used to subsidize redevelopment and community improvement projects. Funds generated in the area, typically from property tax and gross receipts tax revenue, cycle back to the specific district where the TIF was implemented. The bill ultimately establishes communication protocols with stakeholders and constituents, data tracking on the progress of tax increment financing and requires more up-to-date MRA plans, according to a city news release. "I am in favor of TIF financing. I think it's a great tool for the MRA, but I do think there needs to be transparency with all these unrestricted funds," Grout said. Albuquerque has 22 metropolitan redevelopment areas, some with plans ranging from 30 to less than a year old. The initial bill Grout introduced had a clause that would have rendered any MRA plan drawn up over five years ago ineligible. That would have included the East Gateway area — the only MRA in her district — along with 20 of the city's 22 MRAs. That was scrapped instead for a 10-year or newer requirement. Seven of the MRA plans are less than 10 years old, including East Gateway. The bill also establishes a path for updating older plans, since those older than a decade are required to be updated within two years of a TIF request approval, said council spokesperson Vincent Higgins. "You want TIFs to be in areas that are about to grow, and we see some opportunities for growth in the East Gateway, so it would be really advantageous to that area of town to have a TIF," Terry Brunner, director of the Metropolitan Redevelopment Agency and Mayor Tim Keller's chief of staff, told the Journal. Bruner said the Keller administration's economist predicts $150 million in fiscal growth over 20 years with a TIF in the East Gateway area. Brunner added that the cost of updating a plan is roughly $200,000, while creating a new one is around $250,000. The agency's budget is $1.2 million. Grout isn't set on requesting a new plan for the East Gateway, saying in an interview that she'll listen to constituents. "If in the East Gateway, businesses want to do that I will work with them to bring in all of the stakeholders and I think it's important that the community is involved," Grout said. "I think that if we're going to do a TIF in my district, we need to update it first because things have changed." The East Gateway MRA district, established in 2007, was updated with an MRA plan in 2016. The MRA boundary is 665 total acres and encompasses Central from Wyoming to Tramway and includes the intersection of Juan Tabo and Interstate 40. Grout added that she wants increased transparency because a TIF will outlast nearly all current elected city leaders. During the council's last 2024 meeting, it passed legislation to establish the city's first TIF in Downtown Albuquerque.
