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Rio Rancho developer sues over fees
Updated: Monday, 15 Oct 2012, 9:41 AM MDT
Published : Monday, 15 Oct 2012, 8:59 AM MDT
RIO RANCHO, N.M. (AP) - A developer holding more than $8 million of impact-fee credits for improvements at a Rio Rancho master planned community is suing the city because it cut those fees.
Developer Curb North Inc. filed the $5.6 million lawsuit over the two-year impact fee moratorium the City Council passed last month.
The Albuquerque Journal reports ( http://bit.ly/W8EyIQ ) the company repeatedly warned the city it would sue if the moratorium was enacted.
The measure reduced fees the city charges developers for infrastructure like roads and sewer lines by 50 percent for residential development. It eliminated them for commercial development.
Curb got the credits for improvements at the Cabezon planned development in a 2010 settlement. It has been selling them to other developers.
The city says severe budget cuts are possible if it loses.
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