City will Discuss Star Center, New Subdivision

The Rio Rancho Governing Body is set to consider special taxing districts for a proposed subdivision and a contract renewal with Santa Ana Star Center management contractor Global Spectrum at its meeting Wednesday.
The meeting is set for 6:30 p.m. at City Hall, 3200 Civic Center Circle.
The agenda includes several items dealing with the proposed residential Stonegate subdivision, to be located about a mile south of City Center, between Montezuma Boulevard and Cardiff Avenue; residential Milagro Mesa subdivision and commercial and residential Tierra del Oro subdivision, according to city information. All three subdivisions are north of Northern, east of Unser and south of Paseo del Volcan.
The New Mexico developer, Coal Bank Holdings, is requesting a public improvement district (PID), a tax increment development district (TIDD) and impact fee credits for constructing infrastructure, according to the information. The governing body is to decide whether to accept the PID and TIDD applications and feasibility studies for further consideration.
The PID would involve only Stonegate and would finance the construction of roads, sewer collection facilities and lines, water lines, storm drains and parks. Unlike the troubled Mariposa East PID, the Stonegate PID would use a special levy structure, which is limited to an amount specified before bonds are issued and eliminates the risk of large increases in property taxes and other levies, according to the information.
The TIDD would include all three subdivisions, planned to have a total of 1,086 single-family homes, 95 townhomes, 238 multi-family units and almost 10 acres of commercial property. Under the proposal, the TIDD would provide gross receipts tax money to pay for a sewer interceptor line, a regional storm drain and construction of parts of Montezuma Boulevard and Cardiff Avenue…
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By Argen Duncan (Rio Rancho Observer)