On September 19, Del Esparza, chairman of the Greater Albuquerque Chamber of Commerce (GACC) and founder and CEO of Esparza + Digital Advertising; Terri Cole, GACC president and CEO; and Doug Majewski, GACC Downtown Transformation BIG Chair and CEO of Hartman+Majewski Design Group, wrote a guest column in the Albuquerque Journal.
The Chamber highlighted how thriving American cities often have vibrant downtown areas that offer urban housing, a dense economic base with public and private sector jobs, and recreational opportunities such as dining, shopping, and cultural activities.
In their column, the Chamber leaders emphasized the need for Downtown to be safe and welcoming while also providing housing and infrastructure to attract more people and businesses. They stated: “On the development front, two exciting opportunities lay before us. We need to seize them both for a more vibrant, and yes, safer, Downtown.”
The first opportunity mentioned is a new state law allowing the community to capture more tax revenue produced in Downtown Albuquerque. This revenue would be reinvested into public and private development projects through tax increment financing. The Chamber believes this approach could significantly boost Downtown growth by creating a long-term revenue stream potentially generating up to 20 times more funds annually than current investments.
The second opportunity involves re-establishing a business improvement district (BID) in Downtown Albuquerque. The Chamber noted that many successful American cities have BIDs for their downtown areas. Under a BID framework, downtown property owners collaborate to promote and beautify the area, support events, enhance security measures, create recreational opportunities, among other initiatives.
“The work of improving Downtown public safety must continue in earnest. But let’s acknowledge that one of the most effective long-term ways to solve this problem is to energize the Downtown area with so much development, growth and activity that it’s no longer an easy haven for the homeless or playground for the criminal element,” wrote the Chamber leaders.
The full guest column can be read in the Albuquerque Journal.