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F I S C A L I M P A C T R E P O R T
SPONSOR Robinson
DATE TYPED 3/6/05
HB
SHORT TITLE Kirtland AFB-Gibson Blvd. Redevelopment Plan
SB 554
ANALYST Hadwiger
APPROPRIATION
(in $000s)
Appropriation Contained Estimated Additional Impact Recurring
or Non-Rec
Fund
Affected
FY05
FY06
FY05
FY06
$400.0
Non-Recurring General Fund
(Parenthesis ( ) Indicate Expenditure Decreases)
SOURCES OF INFORMATION
LFC Files
Responses Received From
Economic Development Department (EDD)
SUMMARY
Synopsis of Bill
Senate Bill 554 appropriates $400,000 from the general fund to the Department of Finance and
Administration for the purpose of supporting the Middle Rio Grande Council of Governments to
prepare an infrastructure and redevelopment plan to improve and enhance job creation along the
Gibson Boulevard Corridor, including Kirtland Air Force Base, Sandia National Laboratories,
and the Lovelace area.
Significant Issues
The Gibson corridor in Albuquerque offers significant economic development potential due to its
proximity to the Albuquerque International Sunport, as well as to the Sandia National Laborato-
ries and Kirtland Air Force Base. Improvements in this corridor would also facilitate access to
the Sandia Science and Technology Park
FISCAL IMPLICATIONS
The appropriation of $400,000 contained in this bill is a non-recurring expense to the general
fund. Any unexpended or unencumbered balance remaining at the end of FY06 would revert to
the general fund.