Subsidy Tracker Individual Entry
Mesa del Sol land development
The subsidy value is cited in an Albuquerque City Council document, "Tax Increment Development Districts (TIDDs) Information Memo," which is online at http://www.cabq.gov/council/documents/tidds.
The subsidy comes from a 13,000-acre tax increment development district (TIDD) in which increases in gross receipts and property tax revenues are diverted to pay off bond issues whose proceeds are use to pay for the developer's infrastructure costs. The future of Mesa del Sol is uncertain as Forest City Covington spent much of 2012 trying to sell its stake in the project. Overlaps with main Subsidy Tracker data: none.