Bernalillo County Board of Commission Administrative Meeting April 2026
County Approves IRB for Oso Negro Battery Project
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Description
The Bernalillo County Commission approved taxable industrial revenue bonds for Oso Negro LLC’s $175 million standalone battery storage facility at Ladera Business Park. The 30‑year IRB grants an 80% personal property tax abatement and gross receipts tax exemption on equipment in exchange for a 20% annual PILOT and continued real property tax payments.
Contract Details
Contract Amount
Not to exceed $175,000,000 (par value private investment); personal property tax abatement of approximately $803,000/year, totaling about $24,000,000 over 30 years, plus county personal property exemption of $200,893/year (~$6,000,000 over project life)
Vendor
OSO NEGRO LLC
Agency
Bernalillo county Housing Department, NM
Contract Type
FINANCIAL_SERVICES
Document Date
April 14, 2026
Contract Term
30-year industrial revenue bond term
Renewal Date
2056-12-31
Renewal Info
Thirty-year IRB term with 80% personal property tax abatement and 20% PILOT; real property remains fully taxable. No explicit renewal options were discussed.
More from OSO NEGRO LLC
Related Contracts
Bernalillo County Board of Commission Administrative Meeting Transcript April 2026
APPROVEDBernalillo County Board of County Commissioners Meeting Minutes March 2026
APPROVEDBernalillo County Board of County Commissioners Administrative Meeting Agenda March 2026
PENDINGIssuing Agency
Bernalillo county Housing Department
Local Housing Authority
Albuquerque, NM
More from Bernalillo county Housing Department
Bernalillo County Board of County Commissioners Administrative Meeting Agenda May 2026
Bernalillo County Board of County Commissioners Administrative Meeting Agenda May 2026
Bernalillo County Commission Administrative Meeting Agenda April 2026
Bernalillo County Commission Administrative Meeting Agenda April 2026
Bernalillo County Board of County Commissioners Administrative Meeting Action Report April 28 2026
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