Economic Development

BernCo Commission Approves Project Revenue Bonds

11/10/2020

The Bernalillo County Commission approved project revenue bonds for the Casa de Sierra apartments, formerly known as Valencia Court Apartments. The bonds, in a series of one or more, are tax-exempt and/or taxable bonds not to exceed $14 million.

The approval will allow the 188-unit complex, in southeast Albuquerque, to remain a senior housing and households with disabilities complex intended for occupancy by persons 55 years of age and older in compliance with the Housing for Older Persons Act.

“The U.S. Census Bureau reports that almost 30% of the population in our country is 55 and older,” says County Commissioner Jim Collie. “Bernalillo County is continuing to support and assist this growing group with affordable housing as they live their golden years.”

DBG properties plans to fix and upgrade individual units with new counter tops, cabinet doors/faces, smoke alarms, paint, hardware, water heaters, appliances and new windows.

Promoting the development of this site more efficiently utilizes the limited resources of government and provides a viable alternative to fringe development. Additionally, this project continues the county’s efforts toward achieving the Bernalillo County strategic plan goal of quality of life, by continuing to provide needed additional affordable housing for residents.

Project revenue bonds are issued by the county and backed by investors. The bonds are repaid through income from the financed project.

The bonds were approved by the commission on a 5 to 0 vote.

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  • Due to the State‚Äôs Emergency Order, this hearing will be conducted as a Public Zoom Video Conference. Members of the public may attend via the web at this address: https://bit.ly/3bIyNhZ or by calling the following number: +1 669 900 6833 and entering Meeting ID: 862 2678 8814and Password: 560761For inquiries concerning this agenda, please contact Sonia Gutierrez at (505) 314-0322, or send written comments at least 48 hours prior to the ZA Hearing date to Nicholas Hamm, Zoning Administrator, c/o Sonia Gutierrez at 111 Union Square St SE, Suite 100, Albuquerque, NM, 87102 or sogutierrez@bernco.gov. Please see attached hearing schedule and public notice for deadlines.
    Location:
    Virtual
    Time:
    2/10/2021 9:00 AM

  • Please see attached schedule for hearing deadlines.
    Location:
    Virtual
    Time:
    3/10/2021 9:00 AM

  • Please see attached schedule for hearing deadlines.
    Location:
    Virtual
    Time:
    4/14/2021 9:00 AM

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