Retail

Gross Receipts Investment Policy (GRIP)

Click here for the GRIP Application.

A developer/retailer pays for the cost of public infrastructure improvements (roads, drainage, water and wastewater lines, etc.) for a project, and in return the city refunds a percentage of the yearly applicable gross receipts tax revenues it receives that are directly attributed to the retail sales of the project/business back to the developer up to a maximum number of years; or the city may reimburse impact fees where the reimbursement thereof is instrumental in bringing the retail or targeted commercial businesses to the city.

Requires Rio Rancho Governing Body approval to be enacted.

Tax Increment Development District (TIDD)

A TIDD issues bonds to finance public infrastructure improvements (streets, water, wastewater, drainage). The TIDD bonds are secured by a dedication of certain municipal, county, and/or state-shared gross receipts tax that are generated in the TIDD. The length of time and amount of gross receipts tax dedication that occurs varies by individual TIDDs.

Requires Rio Rancho Governing Body approval to be enacted.