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Meeting will address La Posada renovation
If you go
The Bernalillo County Commission meets at 4:30 p.m. today in the Vincent E. Griego Chambers of the City of Albuquerque/Bernalillo County Building, 1 Civic Plaza N.W. Issues on the agenda include:
A resolution that would allow Bernalillo County Metropolitan Detention Center leaders to sidestep judicial overview in deciding which inmates are approved for the community custody program. A judge is involved in the decision now to put inmates on the program, which allows offenders to serve sentences outside of jail in their homes so they can work or attend treatment programs. It helps reduce the jail's population and cut the cost of handling inmates.
A vote to approve publicizing a minimum wage ordinance for the county. Final approval of the ordinance would come at a future meeting. The ordinance is modeled after Albuquerque's. It would raise the minimum wage to $6.75 in January. In January 2008, it would go to $7.15. The wage would rise again in January 2009, to $7.50 an hour.
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The company behind the renovation of the historic La Posada de Albuquerque hotel gets a second shot at $14 million from the county.
Bernalillo County commissioners tonight will reconsider a $14 million industrial revenue bond for Goodman Realty Group to transform the Downtown hotel.
Commissioners voted 3-2 against the bond in August, but chose to reconsider it so they could gather more information on the project.
"We've never done an IRB (industrial revenue bond) for a hotel, and they (the commissioners) weren't sure this was a proper thing to do," said Commission Chairman Alan Armijo.
The resolution up for review is the first step in granting the bond. If approved, another resolution would come before the commission in November, Armijo said.
The bond would allow the hotel's owner to avoid paying most property taxes for a number of years yet to be determined, possibly 10, Armijo said.
Some property taxes that go toward schools and hospitals would still be collected.
The bonds are used to attract companies that bring jobs and economic development.
What's uncertain, Armijo said, is how much construction would take place on the hotel and how many jobs the construction would provide. A boost to employment rolls is one consideration in approving an industrial revenue bond.
The $18 million project to renovate the hotel could include an outdoor cantina on the roof, the addition of restaurants and a bar, and the rebuilding of the mezzanine into a cultural center focused on Albuquerque, Gary Goodman, president of the Goodman Realty Group, told The Tribune in June.
The group also hopes to use solar power for heating the hotel's water.
The now-closed hotel at Copper Avenue and Second Street Northwest was formerly known as the Albuquerque Hilton. It opened in 1939 and was renamed La Posada de Albuquerque in 1983.
The hotel joined the National Register of Historic Places in 1984.
Goodman Realty Group bought it for $4 million in 2005 at a bankruptcy auction.
