SunCal

Political scandals, former elected officials getting indicted, electoral surprises and an occasional David toppling a Goliath–2009 had it all.

The big story Tuesday night was R.J. Berry. The two-term Republican state Representative did well in Democratic strongholds. He won with independents. In fact, Berry walked away with what had been viewed as a close race, besting Mayor Martin Chavez and Richard Romero and avoiding a two-man runoff by capturing nearly 44 percent of the vote.

The development community appears to be targeting two of its most vocal opponents on the city council in hopes of gaining a development-friendly board, two Albuquerque city councilors charged Wednesday. Westland Development Co., a subsidiary of SunCal, has spent at least $10,000 on the race.

A large developer hoping to finance a huge mixed-used development on the Albuquerque’s West Side—with bonds based on future tax proceeds—is targeting its most vocal opponent on the City Council. A mailer sent to District 5 voters this week criticizes City Councilor Michael Cadigan, who is seeking re-election. Cadigan is a longtime, vocal opponent of the tax-proceeds scheme — called TIDDs for short — by which SunCal, the developer, hopes to pay for roads, water lines and other infrastructure for the development.

In a statement today, ABQ mayoral candidate Richard Romero called on incumbent Mayor Martin Chavez to “stop fighting for his misguided SunCal soccer park.”

Veteran state lawmaker Rep. Mimi Stewart told Clearly New Mexico that the full extent of the campaign by Westland Development to pass the SunCal tax-increment development district, or TIDD, may never be known. Westland reported spending more than $230,000 on an advertising campaign promoting the TIDD.
“I think they spent a lot more than that. Because [...]

Gov. Bill Richardson is saying he is “seriously considering” making two failed proposals to leverage future taxes against future development a part of his agenda for a proposed special session this fall.

SunCal Corp. has filed a “lobbying advertising campaign” report with the New Mexico secretary of state, detailing $232,540 in advertising costs the company incurred to promote its legislative priorities during the session.
As was widely reported during the session, the company undertook a massive advertising campaign in support of its quest to obtain a tax increment [...]

The New Mexico House of Representatives has not taken a break since going onto the floor a little after 10 a.m. Friday.
And it’s looking right like its members could go several more hours before taking a break.
There are several controversial bills queued up, including capping campaign contributions, which could bump up against the House’s rule [...]

Reporters and guests live blogged from the House Friday, lasting until after 3 a.m. Saturday. A stem cell research bill and the SunCal tax increment development districts (TIDDS) failed, while a TIDD for Winrock and campaign contribution limits passed. Read the details in the transcript by clicking on the headline.

The state Senate just passed a bill by a vote of 29 to 9 to allow Westland Dev. Co. to issue tax-exempt bonds secured by 50 percent of state gross receipts tax revenue, 30.77 percent of Bernalillo County GRT, and 10 percent of county property taxes generated within Tax Increment Districts 2, 3, 4, and [...]

Getting something for nothing is always an attractive notion. But if the housing bubble and the Bernie Madoff scandal have taught us anything, it is that there are hidden costs to “free” money.

Two new development districts have been created to subsidize developments at Albuquerque’s Winrock mall location and in downtown Las Cruces — the first such districts created in city centers. But how much the move will cost the state remains unclear.

There are 15 to 20 people who’ve told Diane Denish they’re interested in the lieutenant governor job if/when Richardson is confirmed as Secretary of Commerce and Denish moves into the governor’s office, Kate Nash writes on her Green Chile Chatter blog. Nash lists some of the names we’ve all been tossing around then points at [...]

I got a second mailer from SunCal Corporation promoting TIDDs this week, and it seems that just about everyone I know in Albuquerque and Bernalillo County did as well. This direct-mail promotional effort must have cost SunCal a bundle.
The mailers are promoting the use of tax increment development districts as a source of jobs. “Tidds [...]