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F I S C A L I M P A C T R E P O R T
SPONSOR Altamirano
ORIGINAL DATE
LAST UPDATED
2/9/07
3/8/07 HB
SHORT TITLE Bernalillo "Old Metro Court" Land Lease
SB SJR 16/aHVEC
ANALYST Propst
APPROPRIATION (dollars in thousands)
Appropriation
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
NFI
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
General Services Department (GSD)
SUMMARY
Synopsis of HVEC Amendment
The amendment corrects the property to be leased from 410 Roma Ave., NW in Albuquerque to
401 Roma Ave., NW in Albuquerque.
Synopsis of Original Bill
Senate Joint Resolution 16 allows the Property Control Division (PCD) of the General Services
Department (GSD) to lease, sale, or trade the old Metropolitan Court Building at 401 Roma Ave.
NW in Albuquerque.
•
PCD is authorized to lease the property for a term of more than twenty-five years.
•
If PCD is unable to lease the property, PCD may sell or trade the property.
•
If the property is traded for another piece of property, both parcels would be appraised by
an appraiser agreeable to PCD, the private owner, and the Property Tax Division (PTD)
of the Taxation and Revenue Department (TRD), with validation by PTD prior to trade.
•
If sold, the property would be appraised by an appraiser selected by PCD and approved
by PTD, with PTD validation prior to sale.