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 for having debates last only three hours.

Right now the House is debating one of two other bills that could take a similar amount of time.  SB 249 would authorize bonding for several TIDDs created by SunCal, a controversial project in West Albuquerque. SB 467, meanwhile, would authorize bonding to help pay for three Tax Increment Development Districts (TIDDs) created to help refurbish Winrock mall in Albuquerque. That could take some time too.

ALBUQUERQUE — New Mexico’s Board of Finance created new tax-increment development districts (TIDDs) this week to subsidize two development projects, one for the redevelopment of the Winrock Mall location in Albuquerque and one for the redevelopment of downtown Las Cruces.

Both projects — commonly referred to as “infill” by developers and planners — are within their respective city centers, rather than on the outskirts, as all previous TIDDs issued by the state have been.

The new designations are contingent on the state Legislature voting to allow the developers to issue public bonds. These bonds provide the developers with money upfront to pay for the infrastructure for the projects. In theory, the bonds will then be paid off with a percentage — or increment — of the future tax revenue generated in the districts.

The Board of Finance made a point of stating in a Dec. 23 press release that these projects do not contribute to “urban sprawl”:

“The new TIDDs are the State’s first infill development districts, which revitalize property in populated areas rather than constructing on open space. Infill development typically increases the real and intrinsic value of community space, and creates new economic opportunities without contributing to urban sprawl,” the statement said.

So far, the state has created several TIDDs for Mesa del Sol — a 12,000-acre master-planned community on the southern edge of Albuquerque. The Board of Finance also approved a handful of TIDDs for SunCal Corporation last year, but the company then failed to get approval for bonding from the 2008 state Legislature. Those TIDDs are on the western fringe of Albuquerque, the first in SunCal Corporation’s plans to develop the 55,000 acres of undeveloped land it owns, most of which is outside the city limits.

The 90-acre Winrock/Quorum project is designed to be a town center that is “sustainable and resource-efficient,” the press statement noted, and it will include “public parks and courtyards, retail and office space, two hotels and an IMAX theater, all using the highest possible U.S. Green Building Council standards. The development plan includes energy smart features such as solar thermal heating and electric vehicle charging stations, water conservation measures, and buildings designed to consume half the fossil fuels of similar developments.”

The Las Cruces district will support a new city hall, a museum and other downtown infrastructure.

While touting the projected 5,500 permanent new jobs that will be created by the TIDDs, the statement does not indicate that either project will include workforce housing or whether the associated construction jobs will be provided at the prevailing wage.

Taxpayers’ expense remains unclear

The Board of Finance press release did not state the tax percentages promised to the developers of the projects, nor did it give an estimate of the expected total future tax diversion to the developers. But Anne Stauffer, policy analyst at New Mexico Voices for Children, was at the meeting and gave the Independent some figures on the percentages.

The Las Cruces project will receive 75 percent of the increase in future taxes over the current tax base. The Winrock/Quorum project, she said, is covered by three TIDDS. The two for the Winrock site were approved to receive 57 percent and 70 percent respectively, and the Quorum project — which is across the street — is set to receive 60 percent.

Stauffer noted that while the board discussed the individual projects, there wasn’t much discussion about the total amount of tax revenue being invested in the projects.

“There was very little discussion about the total amount of state taxes being invested in these TIDDs. This shows why we need to limit in statute the state’s risk under TIDDs,” she said.

Stauffer added that she thought all of the TIDDs created by the state needed to be more thoroughly monitored.

“It’s important to track the total taxpayer money dedicated to all TIDDs and the cumulative effect on the state general fund and the ability to pay for ongoing programs that provide services to New Mexico families,” she said.

Now that the Board of Finance has approved these TIDDs, the developers will be at the state Legislature when it convenes, to persuade legislators to approve the TIDD bonds. SunCal Corporation will also be there, pushing for approval of the TIDD bonds that weren’t passed last year.