Bernalillo County Board of Commission Administrative Meeting Transcript April 2026
County Approves IRB for Oso Negro Battery Project
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Description
Bernalillo County approved a 30-year taxable industrial revenue bond ordinance for Oso Negro LLC, authorizing up to $175 million in private investment for a standalone battery storage facility at Ladera Business Park. The project receives an 80% personal property and GRT abatement with a 20% PILOT payment while maintaining full real property tax payments.
Contract Details
Contract Amount
Not to exceed $175,000,000 (project par amount)
Vendor
OSO NEGRO LLC
Agency
Bernalillo County, NM
Contract Type
CONSTRUCTION
Document Date
April 14, 2026
Contract Term
30-year industrial revenue bond term
Renewal Date
2056-12-31
Renewal Info
IRB provides 30-year personal property tax and construction-related GRT abatements with a 20% PILOT; no renewal terms beyond the stated IRB term were discussed.
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Bernalillo County Board of Commission Administrative Meeting Transcript April 2026
Bernalillo County Board of Commission Administrative Meeting Transcript April 2026
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