Reporter- New Mexico Business Weekly
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Rio Rancho’s City Council passed a moratorium on impact fees by a 4-2 vote Wednesday night.

The moratorium will start Sept. 22, and backers say it could increase both commercial and residential development in the city.

It will last for two years and cuts fees in half for residential projects and 100 percent for commercial building.

The passage of the fee reductions could make Rio Rancho more competitive with Albuquerque, which passed an impact fee moratorium in 2009. Several major projects, including La Vida Llena’s $60 million retirement community, will likely file permits in Rio Rancho to qualify for the fee reduction.