Special Assessment District (SAD) to bring In an Estimated $27 Million Dollars in Construction Jobs and Development to Albuquerque Westside.
Albuquerque City Council had final hearing on Special Assessment District (SAD) 228, in which property owners (about 310 of them) of 500 lots of land in the inaccessible Area of Volcano Cliff will be developed at no cost to taxpayer.
As it currently stands, the 310 owners lead by a local Real Estate Broker, Barbara Mueller, own these lots but are unable to do anything with them, no current benefits. There are no utilities, no roads, just land. Well, things are about to change. With SAD 228, roads, sewer, the needed utilities and infrastructure will be made for a new community. This is great news. At the public comment, everyone came out in support of the SAD. This is great news for the City of Albuquerque.
According to the city’s SAD Engineer, SAD 228 will levy $50 thousand Cash Assessment on all residential lot, or for those who cannot meet the 30 day requirement for this assessment it may be financed through the New Mexico Finance Authority.
As an Albuquerque Realtor, I am excited about the future Volcano Cliff Development. I will keep you posted about further as the time approaches.
Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras