Dreamcatcher Sawmill Hotel Revenue Bond

At a glance

What: O-26-38 (Baca, by request) authorizes the City to issue and sell a taxable industrial revenue bond (Dreamcatcher Sawmill Hotel Project), Series 2026, with a maximum principal amount of $40,520,267, to acquire, construct, equip and improve the Dreamcatcher Sawmill Hotel, a dual branded Hampton Inn and Home2 Suites with an anticipated 135 guestrooms, and associated site improvements. It also authorizes an indenture, lease agreement, bond purchase agreement and related documents.
Amendment No. 1: Peña moved it; it failed 1-8 (only Peña for). The record does not say what it changed.
Amendment No. 2: Baca moved it; it carried 6-3. For: Baca, Champine, Fiebelkorn, Grout, Lewis, Telles. Against: Bassan, Peña, Rogers.
Decision (August 17, 2026): Passed as amended, 8-1, on Baca's motion. Against: Peña.
Gap: The action summary has no discussion and does not describe the amendments or the hotel's location.

Sources

City Council action summary, August 17, 2026: https://legistar.granicus.com/cabq/meetings/2026/8/3160_M_City_Council_26-08-17_Action_Summary.pdf
Council President letter of introduction, June 1, 2026: https://legistar.granicus.com/cabq/meetings/2026/6/3144_M_President_26-06-01_Letter_of_Introduction.pdf

Log

2026-08-17 - City Council

Taken under Financial Instruments. Amendment 1 failed 1-8; Amendment 2 carried 6-3; passed as amended 8-1.

2026-08-03 - City Council

O-26-38 postponed to August 17, 2026, 7-2, on Baca's motion (against: Bassan, Grout).

First taken up under Financial Instruments. Peña moved Amendment No. 1, which carried 6-3 (against: Fiebelkorn, Lewis, Telles). Baca then moved to postpone as amended to August 3, 2026; carried 5-4 (against: Bassan, Grout, Lewis, Peña). The sister bond, Dreamcatcher Journal Center Hotel Revenue Bond, passed 9-0 that night. The June amendment numbering differs from the August record (where Amendment No. 1 failed 1-8), so the amendments were probably revised in between.

2026-06-01 - President

O-26-38 introduced (Baca, by request) for the June 15 Council meeting; maximum principal $40,520,267 for a 135-room dual branded Hampton Inn and Home2 Suites.