ABQ Times

Following the approval of the Marijuana Equity and Community Reinvestment resolution by the Albuquerque City Council, $4.02 million has been allocated to fund a new Guaranteed Income Initiative. This initiative aims to address historic inequities and provide economic stability for families seeking a better future.

The program will focus on reducing the wealth gap by providing recurring financial support to eligible low-income residents in the International District and West Side. These areas were selected due to their association with Whittier and Carlos Rey Elementary Schools, which face significant academic challenges and high absenteeism rates.

The initiative's first cohort will include 80 households receiving $750 monthly for three years. A second cohort will consist of 20 families and up to 40 opportunity youth.

“This program puts money where it’s needed most, into the hands of struggling families working to build a better future,” stated Mayor Tim Keller. “Albuquerque is a city that will always fight to correct injustices and will push to help families get the tools they need to succeed with dignity.”

Albuquerque District 3 Councilor Klarissa J. Peña emphasized the importance of implementation strategies: "While we've secured the funding with R-25-116, ensuring the appropriation of $4.02 million goes to the Marijuana Equity and Community Reinvestment Fund, our work doesn't stop here."

The City’s Office of Equity and Inclusion (OEI), established by Mayor Keller, will oversee the program's management. OEI Director Sonya Lara noted, “Families are creative problem solvers. This program gives them the power to make choices that create stability and opportunity.”

Priority for participation in this pilot program will be given to those adversely affected by marijuana criminalization, including Black, Native American, Asian, Pacific Islander individuals, women, low-income families, and youth aged 14–24.

Albuquerque District 6 Councilor Nichole Rogers expressed her enthusiasm: “I am overjoyed that GBI is going to become a reality using Government funding.”

Participants in the cohorts will also receive financial counseling from the Office of Financial Empowerment (OFE) as part of their preparation for life beyond this support.