Committee approves incentives plan for Topgolf
May 14, 2018 10:16 PM
ALBUQUERQUE, N.M. – A plan to use millions of dollars in incentives for a high-end golf complex cleared a city council committee Monday, but the proposal has drawn criticism.
The Finance and Government Operations Committee approved an ordinance to give $2 million in Local Economic Development Act funds to Topgolf for an Albuquerque facility. The full council will hear the ordinance at its June 4 meeting.
The Dallas-based company plans to build the three-story complex on Montaño Road near I-25. The project would cost an estimated $38.8 million. It's expected to bring 350 new jobs once completed along with 300 construction jobs.
Much of the incentives would come from gross receipts taxes.
“I’m always looking for new things to do with friends and family,” said Martin Ventura, an Albuquerque resident.
“It would be a destination to come and check out, especially for New Mexicans in general,” said Anthony Macias, another resident. “Plus, with the travel into Albuquerque and the revenue, it would definitely boost our economy.”
However, a spokesperson for Albuquerque Economic Development said this proposal deviates from other projects that have received LEDA funds. Public Information Officer Rachael Maestas said the proposal does not set requirements for job creation but does waive a 10-year commitment to remain in operation.
“It’s important to follow the normal rules for this project, which requires an economic assessment, to ensure taxpayer fund are used wisely,” Economic Development Director Synthia Jaramillo said. “This legislation circumvents this process and waives these safeguards for this project, and this project alone.”
Updated: May 14, 2018 10:16 PM
Created: May 14, 2018 07:40 PM
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