Hello friend of affordable housing in Albuquerque
There are two ordinances scheduled to be heard by the City Council on Monday, April 4th that will generate funds for affordable housing development and support the acute needs for those experiencing homelessness. Both ordinances allocate 40% for affordable housing development of funds generated by a .375% gross receipts tax enacted in 2018 (Not a current tax increase).
Councilors Isaac Benton, Pat Davis & Tammy Fiebelkorn has proposed the following ordinance (0-22-9) which states: Revenue from the municipal hold harmless gross receipts tax will be used for the purposes listed below:
(A) In fiscal years 2019 and 2020, no less than 60% of the tax receipts shall be used for the City's Public Safety Budget Goal Priorities.
(B) 40% of the tax receipts shall be used for the City's Affordable Housing Goal Priorities.
This Ordinance would fund these priorities by reallocating the .375% Gross Receipts Tax adopted by the City in 2018.
Councilor Dan Lewis has proposed the following ordinance (0-22-1) which states: Revenue from the municipal hold harmless gross receipts tax will be used for the purposes listed below:
(A) In fiscal years [2019 and 2020 2023 through 2028] no less than 60% of the tax receipts shall be used for the city's Public Safety Budget Goal Priorities [, and thereafter for general purpose].
(B) [General municipal purposes In fiscal years 2023 through 2028 no less than 40% of the tax receipts shall be used toward addressing homelessness and affordable housing, and thereafter for general purpose].”
This Ordinance would fund these priorities by reallocating and reducing the .375% Gross Receipts Tax adopted by the City in 2018 by 1/8% to .25%.
The Urban Institute Report commissioned by the City of Albuquerque recommends the City: close the 15,500-unit gap by preserving existing affordable units and producing more units, and by increasing housing vouchers. “These steps can quickly address Albuquerque’s increasing homelessness and help renters who have barriers to finding and maintaining stable housing.” (Urban Institute, Albuquerque Affordable Housing and Homelessness Needs Assessment https://www.cabq.gov/mayor/documents/albuquerque-affordable-housing-and-homelessness-needs-assessment.pdf )
It is important for your voice to be heard. You can sign up for public comment by 3:00 on Monday at the City council page at cabq.gov: Public Comments — City of Albuquerque (cabq.gov) You can also reach out to your City Councilor and show your support.
Thank you,
Felipe Rael | Executive Director