IT'S ANOTHER 15 YEARS OF RESIDENCY FOR THE ALBUQUERQUE BALLOON FIESTA AT BALLOON FIESTA PARK. CITY AND FIESTA OFFICIALS WORKED OUT A DEAL THIS WEEK THAT'S ALREADY BEEN APPROVED BY THE CITY COUNCIL. MAYOR RICHARD BERRY SAYS THE NEW AGREEMENT IS A WIN-WIN SITUATION FOR BOTH THE CITY AND THE FIESTA. 

 

IT CUTS BACK ON THE FIESTA'S EXCLUSIVE USE OF THE PARK. THEY'LL NOW USE THE LOCATION 60 DAYS INSTEAD OF 90 ... GIVING THE CITY A CHANCE TO HOLD EVENTS THERE TOO. OTHER PROVISIONS INCLUDE INCENTIVES TO ENCOURAGE THE CITY AND THE FIESTA TO INVEST IN THE PARK ... AND COVER HOW THE TWO SIDES WILL SHARE COSTS AND SAVINGS FROM CAPITAL IMPROVEMENTS AT THE PARK.