The Rio Grande Foundation opposes the $50 million to fund the project of a new Team United soccer stadium through a tax revenue bond measure.
The estimated cost for the stadium is around $70 million.
“Albuquerque Mayor Tim Keller has decided that, despite rampant crime and a homeless problem that has grown dramatically worse on his watch, building a new soccer stadium for New Mexico United should be a top city priority,” Rio Grande Foundation President Paul Gessing stated in a campaign letter. “The stadium itself, to be located somewhere in the vicinity of downtown, will cost taxpayers in excess of $70 million. That doesn’t include land acquisition, parking or inevitable cost overruns.”
The Albuquerque City Council will be including a bond question for the stadium on the ballot in November, according to Rio Grande Foundation.
The non-profit organization is urging voters to reject the proposal.
The Rio Grande Foundation is an economic policy think tank in Albuquerque, New Mexico. It is affiliated with the U.S. nationwide State Policy Network.