At Monday’s Albuquerque City Council meeting a vote will be held on whether or not to hand TopGolf a $2.6 million economic development package including $400,000 in cash; reimbursement of 30 percent of city gross receipts tax revenue, up to $1.8 million, to assist the site developer with costs of land, building or infrastructure.
Finally, the City’s package will include $326,000 from city transportation infrastructure tax revenue for improvements to Culture Road, which leads to the project.
But that’s not all! Bernalillo County has already given initial approval to the idea of spending an additional $1.75 million in public money to help pay for the project.
All of this is questionable (especially the $400K and the GRT reimbursement), but what makes it even more problematic is the fact that 8 of our 9 city councilors (excepting Brad Winter) JUST passed a massive, regressive tax hike that hasn’t even taken effect yet! That tax will raise the GRT from the current 7.5% to 7.875%.
At the time, Council President Ken Sanchez said, “This vote tonight will be one of the most difficult votes that I make as an Albuquerque city councilor, but I firmly believe we have no other choice.” So, a City that didn’t have enough money to pay cops a few months ago now has plenty of money for subsidized golf.
The thing sadder than all of this is that supposed “Republicans” on City Council (Trudy Jones and Don Harris) handed Mayor Keller a tax hike he didn’t even ask for back in March, now they are making him look like a fiscal conservative when he speaks out against corporate welfare.
Come out to City Council this Monday starting at 5pm and tell them what you think of their financial mismanagement!