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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 3/3/05

HB

SHORT TITLE Albuquerque Central Ave. District Planning

SB 908

ANALYST Hadwiger

APPROPRIATION

(in $000s)

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

$125.0

Recurring General Fund

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Department of Finance and Administration (DFA)

Economic Development Department (EDD)

Commission on Higher Education (CHE)

SUMMARY

Synopsis of Bill

Senate Bill 908 appropriates $125,000 from the general fund to the Department of Finance and

Administration to support a relationship between the New Mexico Mainstreet Program and Uni-

versity of New Mexico’s School of Architecture and Planning’s Design Planning and Assistance

Center (DPAC) to provide mainstreet and central business district planning for redeveloping the

local economy in Albuquerque.

Significant Issues

The Commission on Higher Education (CHE) noted the 30-year-old DPAC within the UNM

School of Architecture and Planning has worked on more than 900 projects throughout New

Mexico for low-income families, disadvantaged groups, neighborhood associations, Native

American communities, social service organizations and others. More than 1,000 students have

participated in projects.

The New Mexico MainStreet program was introduced through a legislative act in 1985. More

Senate Bill 908 -- Page 2

than 25 communities have and are participating in the Mainstreet program.

"The purpose of the Main Street Act is to provide for the revitalization of central business

districts in New Mexico communities based on the preservation and rehabilitation of existing

structures of unique historical and architectural character and the development of progressive

marketing and management techniques as an economic development strategy for local

governments." 3-60B-1 to 3-60B-4 NMSA 1978

Reinvestment Statistics 2003

Net Number of New Businesses

446

Number of Business Expansions

42

Number of Building Rehabilitations

94

Dollars of Private Reinvestment

$15,553,300

Number of Public Projects

24

Dollars of Public Investment

$9,238,491

Number of Joint Public/Private Projects

20

Dollars Invested in Public/Private Projects $3,778,633

Number of New Buildings Constructed

25

Dollars Invested in New Building Construction $33,175,000

Number of New Jobs

604

Dollars of Public Sector Grants

$631,852,375

Dollars of Private Sector Grants

$126,100

FISCAL IMPLICATIONS

The appropriation of $125,000 contained in this bill is a recurring expense to the general fund.

Any unexpended or unencumbered balance remaining at the end of FY06 would revert to the

general fund.

ADMINISTRATIVE IMPLICATIONS

DFA suggested that funds called for in SB908 are better administered by the MainStreet Program

at EDD.

DH/yr