Petroglyph Medical Plaza
In late 2009, the Rio Rancho Governing Body approved a gross receipts tax investment policy (GRIP) agreement and ordinance related to Petroglyph Medical Plaza (view
The project calls for 227,000 square feet of retail and medical office space to be located at the southwest corner of 19th Avenue and Unser Boulevard. The anchor tenant of the facility is X-ray Associates of New Mexico.
On Jan. 26, 2011, the Governing Body approved a resolution amending the site plan for the Petroglyph Medical Plaza master plan. View resolution
On March 27, 2013, the Governing Body approved a resolution amending the master plan for the Petroglyph Medical Plaza. View resolution
When a GRIP is approved, 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.
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