Wednesday, September 24, 2008

New Rules for TIDD's

The State Board of Finance has adopted some new rules regarding TIDD's. Below is an article from the New Mexico Independent

TIDD Guidelines for New Growth and development Adopted
By Benito Aragon 9/23/08 3:47 PM

The New Mexico Board of Finance last week adopted new rules for the Tax Increment Development District (TIDDs) application process as well as how future proposals will be evaluated. The Independent laid out the issues in a piece published in July.

According to a press release by New Mexico Voices for Children:

The new rules give the board more oversight and will help to ensure that
developers spend the tax money they receive in a way that benefits the
public. A
loose coalition of nonprofits that has raised concerns over the
state’s TIDD
statue, gave the new rules a fairly positive thumbs up.

Read the rest here.

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