From left, David Silverman, Geltmore principal; Doug Majewski, Hartman + Majewski Design Group CEO; William Keleher of Smidt, Reist & Keleher, P.C.; Sherman McCorkle, GACC Legislative Session and State Government Advocacy chair; and Terry Brunner, Metropolitan Redevelopment Agency director, joined other Chamber Bold Issue Group (BIG) members for the program year’s first Downtown Transformation meeting Aug. 7.The Downtown Transformation Bold Issues Group (BIG) met Aug. 7 for an encouraging update on several critical projects that promise to revitalize the Downtown area.
Led by Doug Majewski along with Tom Briones as vice chair, the initiative is building substantial momentum across multiple fronts.
Business Improvement District
William Keleher provided a terrific comprehensive update on the Business Improvement District (BID), emphasizing its vital role in the Downtown transformation strategy. The BID represents a cornerstone of the revitalization effort, and Keleher outlined the ongoing process toward securing the required percentage of property owner support needed to petition the City Council for implementation approval.
Rail Trail Development Advances Ahead of Schedule
Terry Brunner, director of the Metropolitan Redevelopment Agency, delivered some exciting news about The Rail Trail, a crucial infrastructure component of Downtown transformation, especially with its recreational opportunities and improved connectivity throughout the Downtown corridor.
Brunner updated the group on the Sawmill Rail Trail section, which has reached full design completion and is nearing finish, with Jaynes Corporation exceeding timeline expectations by staying ahead of schedule!
Looking ahead, he anticipates requesting development funding from the state Legislature — an effort that will receive full support from the Chamber. The Rail Trail will be 7 miles long, and currently funding has been secured for 2 miles.
TIFF Funding Moves Forward
Brunner also updated the group on the Tax Increment Financing (TIFF) initiative, now in the hands of New Mexico Tax and Revenue Department, which needs to establish criteria for fund appropriations.
The TIFF is significant because it will serve as a catalyst for attracting increased capital investment to Downtown. Brunner mentioned that in the past, the Chamber and community supported Mesa Del Sol and Uptown with TIDDs, and Downtown will be another example of successfully using a TIDD to increase capital and improve another area of Albuquerque’s metropolitan landscape.
Looking Ahead
The meeting represented exciting progress in what promises to be a productive year for Downtown development. The group will maintain advocacy efforts during the interim and will meet again in a couple of months.