- Electric Vehicle parking is expensive
$18,000 per EV parking spot, and $1,650 per EV-capable spot.
- Circling the parking lot
20% of all new construction and apartment parking will be for EVs. The demand for EV parking is nowhere near the requirement of this mandate.
- Raising your rent
Raising the cost of apartments is a classic “regressive” tax that unduly targets low-income New Mexicans.
- Targeting low-income New Mexicans
Considering that housing prices have skyrocketed all over and several cities are facing a housing “crisis,” this mandate couldn’t come at a worse time.
Considering that the City of Albuquerque and other New Mexico cities have very prescriptive (and significant) requirements for parking, this is a classic “unfunded mandate” that will add millions of dollars to the cost of new developments.