Stonegate Communities TIDD

Overview

The Stonegate Tax Increment Development District was established in 2013 by Resolution No. 51 (Enactment No. 13-050), for the purpose of financing a sanitary sewer trunk line, regional storm drain, construction of Montezuma Boulevard and Cardiff Avenue and other public infrastructure required to support the development of the Stonegate, Milagro Mesa and Tierra del Oro subdivisions. The subdivisions comprise approximately 205 acres of land and are expected to contain 1,086 single family homes: 823 in Stonegate, 124 within Milagro Mesa and another 139 in Tierra del Oro. Tierra del Oro will contain 95 townhome units, 238 multi-family units and 10 acres of commercial property. The Tierra del Oro commercial property is expected to translate into approximately 111,670 square feet of retail and office space.

Formation Resolution

Feasibility Study

Boundaries

The District includes the Milagro Mesa, Stonegate and Tierra del Oro subdivisions. The District is generally located to the north of Northern Boulevard, to the east of Dinadan Drive, to the south of Montezuma Boulevard and to the west of Broadmoor Boulevard.

Contact

Carole Jaramillo, cjaramillo@rrnm.gov