Hopewell Mann Neighborhood Stabilization Plan (FIR)

Extracted text

FISCAL IMPACT REPORT
General Information:
(Check) Bill: Resolution: X
Short Title(s): Adopting the Hopewell Mann Neighborhood Stabilization Plan
Sponsor(s): Mayor Michael Garcia, Councilor Elizabeth Barrett, Councilor Paul Bustamante
Reviewing Department(s): Metropolitan Redevelopment Agency
Staff Completing FIR: Carly Venditti, MRA Deputy Director_Date: 7/28/2026 Phone: (505) 795-0675
Reviewed by City Attorney: Date:
Reviewed by Finance Director: Date:
Summary:
The proposed resolution would adopt the Hopewell Mann Neighborhood Stabilization Plan, a community-
driven plan that identifies strategies, policies, and actions to preserve housing affordability, support
residents and businesses, improve infrastructure and public safety, expand economic opportunity, and
strengthen long-term neighborhood stability. The Midtown Community Development Plan, adopted in
2023, identified neighborhood stabilization as a key strategy to promote housing affordability, minimize
displacement, and support long-term community stability. It specifically calls for a community-driven
Neighborhood Stabilization Plan for the Hopewell Mann neighborhood due to the redevelopment pressures
associated with the Midtown redevelopment project.
Departments Affected:
Metropolitan Redevelopment Agency, Land Use Department and Affordable Housing Division, Office of
Economic Development, Public Works Department, Metropolitan Planning Organization, and the
Sustainability Division.
Consequences of Not Enacting Legislation:
If this legislation is not adopted, the City of Santa Fe will be out of compliance with the direction of the
Midtown Community Development Plan.
Conflict, Duplication, Companionship, or Relationship to Other Legislation:
Midtown Master Plan, adopted by Resolution No. 2022-68 and Midtown Community Development Plan,
adopted by Resolution No. 2023-5 (plans collectively known as the Midtown Redevelopment Plans);
Resolution No. 2024-8 amended the Midtown Community Development Plan; and Resolution No. 2025-
42 designated a Metropolitan Redevelopment Area and as established by Attachment A, entitled “Midtown
Metropolitan Redevelopment Plan: Designation Report”.
FIR No. 10770.1Marcos D. Martínez (Aug 12, 2026 10:41:19 MDT)
Marcos D. Martínez08/12/202608/12/2026

Adopted: 01/12/05; revised 8/24/05; 4/17/08; 2
Performance and Administrative Implications:
Administrative implications include quarterly meetings with departments affected to share updates, policy,
and affiliated programming to coordinate implementation and efforts.
Fiscal Implications:
N/A
Fiscal Impact
X Check here if no fiscal impact

Expenditures
Expenditure Narrative:
Revenue
Revenue Type FYE 2027 FYE 2028 FYE 2029 Recurring (R) or Non-recurring (NR) Fund
General Fund $ $______ $
Special Revenue $ $ $
CIP $ $ $
Enterprise $ $ $
Internal Service $ $ $
Trust and Agency
Federal
$
$
$
$
$
$
Other $ $ $
Total $ $ $
Revenue Narrative:
Expenditure
Type
FYE 2026 FYE 2027 FYE 2028 Require BAR
(Y/N)
Recurring (R) or Non-
recurring (NR)
Fund 3-Year Total
Cost
Personnel and
Benefits*
$ $ $
Capital Outlay $ $ $
Contractual/
Professional Services
$ $ $
Operating $ $ $ $
Total: $ $ $ $

Signature:Email:Signature:Email:cavenditti@santafenm.gov