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This page describes the various funding sources, programs, and tools that can be used to carry out redevelopment and revitalization projects in the East Gateway.
The MRA Plan will be aligned with these tools to identify projects and ways to carry them out.
If you're an area business owner, check out the City of Albuquerque's Toolbox below.
Metropolitan Redevelopment Area Toolbox
Metropolitan Redevelopment Area Toolbox
An MRA designation allows the City of Albuquerque to enter public-private partnerships with developers and access to additional funding for relevant projects to carry out projects that benefit public well-being.
Public-Private Partnerships
Public-private partnerships allow the City to work collaboratively with private property owners and developers on projects that benefit both the community and private investment. These partnerships can help deliver catalytic redevelopment projects that might not otherwise be feasible.
Tax Increment Financing
Tax Increment Financing is a financing tool that reinvests a portion of future increases in property and gross receipts tax revenues generated by new development, back into the redevelopment area. These funds can help pay for infrastructure and public improvements that support additional private investment.
Vacant Building Ordinances
Vacant building ordinances help communities address long-term vacant and neglected properties by establishing registration, maintenance, and security requirements. These regulations encourage property owners to maintain buildings, reduce safety concerns, discourage blight, and support the return of vacant properties to productive use.
Business Improvement Districts
A Business Improvement District (BID) is a partnership between property owners and businesses that generates dedicated funding for improvements within a defined commercial area. BIDs can support enhanced maintenance, landscaping, public art, marketing, events, security, and streetscape improvements that make commercial corridors more attractive and economically competitive.
Industrial Revenue Bonds
For eligible commercial and industrial projects, IRBs can provide tax incentives that reduce development costs, making major investments more financially feasible while supporting local job creation.
Supporting Plans & Ordinances
An MRA Plan works best when coordinated with other adopted plans and policies. Supporting plans help identify priorities, strengthen funding applications, and ensure redevelopment investments align with broader community goals.
City of Albuquerque Economic Development Toolbox
City of Albuquerque Economic Development Toolbox
The City of Albuquerque's Economic Development Department has a number of initiatives intended to support local businesses in town. The Department provides technical assistance, business resources, and incentive programs designed to help local businesses start, expand, and succeed. Through partnerships with community organizations and City departments, the program supports entrepreneurship, revitalizes commercial corridors, and strengthens Albuquerque's local economy.
Business Assistance
The City connects entrepreneurs with business planning resources, permitting assistance, financing information, technical assistance, and local partner organizations that help businesses navigate every stage of development.
Buy Local Initiative
The Buy Local Initiative encourages residents, visitors, and City departments to support locally owned businesses. By promoting local purchasing, the program helps retain wealth in the community, create jobs, and strengthen neighborhood commercial districts.
Small Business Funding
As funding becomes available, the City administers grant and assistance programs that help small businesses invest in equipment, building improvements, security, operating expenses, and other business needs. While many grant programs are temporary or funding-dependent, they demonstrate the City's commitment to supporting local businesses and commercial revitalization.
Business Directory
The City maintains a comprehensive directory of organizations that provide business counseling, workforce development, financing, incubator services, and entrepreneurial support, making it easier for businesses to access available resources.
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