This act [3-63-1 to 3-63-16 NMSA 1978] may be cited as the “Business Improvement District Act”. History: Laws 1988, ch. 32, § 1. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 64 Am. Jur. 2d Public Securities and Obligations § 94 et seq.; 70A Am. Jur. 2d Special or Local Assessments § 5 et […]
A. The notice of public hearing required by the Business Improvement District Act shall contain: (1) the time and place where the planning committee will hold a hearing on the proposed district and improvements; (2) the estimated cost of improvements; (3) the boundary of the district; and (4) the recommended formula or the preliminary estimate […]
A. The council, upon adoption of an ordinance creating a district, shall appoint a management committee that shall be responsible for the operation of the district in one of the following manners: (1) the council shall appoint an existing downtown, community or central business district revitalization nonprofit corporation that operates within the boundaries of the […]
A. An incorporated municipality shall have power to issue business improvement district revenue bonds from time to time in its discretion to finance the undertaking of any improvement within a district or the exercise of any power, authorized or delegated under the Business Improvement District Act, including but not limited to the issuance of bonds […]
A. The council, upon recommendation of the management committee, may annually assess a business improvement benefit fee as defined by the ordinance upon all real property owners and business owners, exclusive of: (1) governmentally owned real property; (2) residential real property that is not multifamily residential rental property with at least four units or homeowners […]
A. The council shall by ordinance: (1) establish the time and terms of paying the business improvement benefit fee or installments on the fee; (2) set any rate or rates of interest upon deferred payments of the fee, which shall commence from the last date of publication of the ordinance ratifying the assessment; (3) fix […]
The council shall review each district every five years, and prior to the issuance of business improvement district revenue bonds other than those issued or committed during the first five-year period, to determine whether the district should remain in existence. If a majority of the council decides that the purpose for which the district was […]
The business improvement benefit fee shall be distributed to the management committee on an annual basis pursuant to rules and guidelines established by the council and in accordance with the approved budget of the management committee. History: Laws 1988, ch. 32, § 16.
The purpose of the Business Improvement District Act is to: A. promote and restore the economic vitality of areas within municipalities by allowing the establishment of business improvement districts with the powers to provide for the administration and financing of additional and extended services to businesses within business improvement districts; B. finance local improvements within […]
As used in the Business Improvement District Act: A. “business” means a fixed place of business within an incorporated municipality where one or more persons are employed or engaged in the purchase, sale, provision or manufacturing of commodities, products or services, and includes the ownership of unoccupied real property that is held for commercial investment […]
A district may be created pursuant to the Business Improvement District Act to provide services that shall attempt to restore or promote the economic vitality of the district and the general welfare of the incorporated municipality. History: Laws 1988, ch. 32, § 4.
A. A district shall assess a business improvement benefit fee on any real property or business located within the district. B. A district shall include any real property or business that benefits by the improvements set out in the business improvement district plan and that is located within the district’s geographic boundaries. C. The district […]
A. Whenever ten or more business owners comprising at least fifty-one percent of the total business owners in the proposed district or whenever five or more real property owners comprising at least fifty-one percent of the total real property owners in the proposed district, exclusive of any real property owned by the United States or […]
The ordinance to create a district shall include: A. a list of improvements to be provided by the district; B. the amount of benefit estimated to be conferred on each tract or parcel of real property; C. a description of the real property or businesses to be assessed a business improvement benefit fee; D. the […]
ANNOTATIONS Repeals. — Laws 1999, ch. 204, § 8 repealed 3-63-8 NMSA 1978, as enacted by Laws 1988, ch. 32, § 8, relating to petitions to oppose the creation of a business improvement district, effective April 6, 1999. For provisions of former section, see the 1998 NMSA 1978 on NMOneSource.com.
Upon the initiation of a proposed district, the council shall appoint a planning group consisting of not more than five members, not less than one of which shall be a business owner and not less than two of which shall be real property owners, subject to the assessment, located within the proposed district. History: Laws […]
