Friedman Recycling (2013), Albuquerque, NM

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

COMMUNITY IMPACT

In 2011, the City of Albuquerque’s recycling program was limited by the capacity of the antiquated processing plant that recycled only 5-6% of the city’s waste and was being overwhelmed as recycling participation rates shot up. Annually, the program was costing the City of Albuquerque $1.2 million. Friedman Recycling entered into a 12-year single-stream recycling services agreement with the City of Albuquerque with provisions to extend the contract for two additional three-year terms, necessitating construction of a new facility. The $22.2 million project included the acquisition of 10 acres of land, construction and equipping a 70,000 square foot state-of-the-art material recovery facility capable of processing more than 120,000 tons of recyclables each year. Finance New Mexico (FNM) works closely with government entities and economic development professionals throughout the state. Representatives from the City of Albuquerque informed FNM of the project and public-private partnership being developed with Friedman Recycling. FNM provided $15 million in NMTCs. U.S. Bancorp Community Development Corporation purchased the credits and provided more than $4.2 million in capital. Friedman contributed more than $12 million in equity, and more than $6 million was provided in project loans by Alliance Bank. Recycling in Albuquerque more than doubled over a recent five-year period – from 12,047 tons in 2011 to 34,206 in 2015. Instead of costing Albuquerque upwards of $1.2 million annually, the City has entered into a profit and cost-sharing agreement with Friedman Recycling, creating savings to the city and taxpayers. Additionally, given the capacity of the facility, other communities and private clients are now contracting with Friedman’s facility, creating additional cost savings to communities and taxpayers. The project created 35 full-time positions with full health, retirement and vacation benefits, and 135 temporary construction jobs. The facility achieved LEED Silver certification and includes landscaping with water conservation features, alternative and solar power components and environmentally inspired public art installations. A key component of the facility is the Visitor and Education Center, managed by a full-time Education Coordination and includes hands-on, multimedia interactive exhibits designed to educate visitors on the recycling process, benefits, and environmental issues. A special walking tour and picnic area facilitates school field trips and the Center includes meeting rooms and event space made available to local non-profits and community groups at no cost.

Project Map

Other New Mexico Projects

Continental Divide Electric Cooperative, Inc.

Continental Divide Electric Cooperative, Inc.
Project City:
Grants,
Project State:
NM
Project Year:
(2018)
Continental Divide Electric serves 24,088 consumers living in Bernalillo, Cibola, McKinley, Sandoval and Valencia counties. The company owns 3,998 miles of distribution line ...
Read More

La Castenda

La Castenda
Project City:
Las Vegas,
Project State:
NM
Project Year:
(2018)
Borrower is to rehabilitate the Plaza Hotel and rehab and re-open the La Castaneda Hotel. Once complete, the borrower will manage (or cause to have managed) the Hotels in a ...
Read More

Leprino Foods Company

Leprino Foods Company
Project City:
Roswell,
Project State:
NM
Project Year:
(2018)
Albtertsons - United Supermarkets, LLC: Business, government and civic leaders helped break ground Monday for a new Albertsons Market at 808 N. Canal in Carlsbad. The new construction will replace ...
Read More

United Supermarkets – Albertsons

United Supermarkets - Albertsons
Project City:
Carlsbad,
Project State:
NM
Project Year:
(2018)
NMTC financing was used to construct an Albertsons grocery store. This location will include space for a health clinic and pharmacy in a medically underserved area ...
Read More

Homewise Albuquerque

Homewise Albuquerque
Project City:
Albuquerque,
Project State:
NM
Project Year:
(2018)
There are two big winners in a new markets tax credit (NMTC) equity-financed development in Santa Fe, N.M.: the families who bought affordable, energy-efficient homes and the rest of the ...
Read More

El Camino Crossing

El Camino Crossing
Project City:
Santa Fe,
Project State:
NM
Project Year:
(2017)
New Mexico’s Homewise Inc. received funding to invest in one of Santa Fe's distressed areas. The New Markets Tax Credit allocated $5 million to rehabilitated the Siler Road and Agua ...
Read More

Continental Divide Electric Cooperative Broadband Project

Continental Divide Electric Cooperative Broadband Project
Project City:
Grants,
Project State:
NM
Project Year:
(2017)
Currently, residents and owners of approximately 24,000 homes and business in Grants and the surrounding area have no broadband internet option and rely on satellite internet, the speed of which ...
Read More

Friedman Recycling

Friedman Recycling
Project City:
Albuquerque,
Project State:
NM
Project Year:
(2013)
In 2011, the City of Albuquerque’s recycling program was limited by the capacity of the antiquated processing plant that recycled only 5-6% of the city’s waste and was being overwhelmed ...
Read More

Pueblo of Laguna Wastewater System

Pueblo of Laguna Wastewater System
Project City:
Laguna,
Project State:
NM
Project Year:
(2012)
NMTC financing helped Pueblo of Laguna Utility Authority complete the rehabilitation of the water and wastewater system throughout the tribal lands of Pueblo of Laguna, N.M. The previous water system, ...
Read More

Parq Hotel

Parq Hotel
Project City:
Albuquerque,
Project State:
NM
Project Year:
(2010)
Former hospital turned into a landmark status hotel, the Parq Hotel ...
Read More

Navajo Tribal Utility Authority Electrical Substations

Navajo Tribal Utility Authority Electrical Substations
Project City:
Shiprock,
Project State:
NM
Project Year:
(2009)
Working with U.S. Bancorp Community Development Corporation (USBCDC) as the investor and The Navajo Tribal Utility Authority (NTUA) as leverage lender, Travois New Markets used $6.4 million in allocation to ...
Read More