ALBUQUERQUE, N.M. – At its Dec. 18 meeting, the Housing New Mexico Board of Directors approved an award of $2.42 million to the Village of Angel Fire for a rental housing development under the Affordable Housing in Fire Affected Counties Notice of Funding Availability.
Housing New Mexico – previously known as New Mexico Mortgage Finance Authority – received $3 million in funding secured by Senator Martin Heinrich through the Consolidated Appropriations Act in 2023 to address urgent and long-term housing recovery needs in six fire-affected counties.
In the 2023 Consolidated Appropriations Act, Congress made funding available for grants for the Economic Development Initiative for the purposes specified for Community Project Funding/Congressionally Directed Spending. The Community Project Funding awards are administered by the U.S. Department of Housing and Urban Development.
The $3 million in funding Senator Heinrich secured for Housing New Mexico is designated for low- and moderate-income households in Colfax, Lincoln, Mora, Sandoval, San Miguel and Valencia counties.
“I worked to secure this $3 million investment through the Appropriations process to give more New Mexicans a safe and secure place to call home," said Senator Martin Heinrich. "I’m pleased to see MFA (Housing New Mexico) use this funding to help build more affordable housing in the fire-affected communities of Angel Fire and Ruidoso. I’ll keep fighting to increase our housing stock, bring down the cost of housing, and make it possible for all New Mexicans to achieve the dream of home ownership in their home community.”
Located in Colfax County, the Village of Angel Fire will use the funding for environmental review requirements and site infrastructure for a 4-acre lot that will be developed into affordable rental housing. The Village is proposing to install 20 modular units for low- and moderate-income households to address the affordable workforce housing needs in Angel Fire and in the north-central New Mexico region worsened by the Hermit’s Peak/Calf Canyon Fire in 2022.
“The businesses in Angel Fire don’t compete for customers, they compete for employees,” said Village of Angel Fire Mayor BJ Lindsey. “There are a lot of families that would love to live and work in Angel Fire, but there is simply no place to live. The Village, resort and all other businesses are all hiring, have qualified applicants but no place to house them.”
The Housing New Mexico Board approved the Affordable Housing in Fire Affected Counties Notice of Funding Availability in October 2023. In June 2024, the board approved a gap financing award of $489,300 for Elk Meadows to build 72 units for low- and moderate-income households in the Village of Ruidoso to address affordable workforce housing and mitigate the effects of the 2022 McBride fire.
“I am very appreciative of both Sen. Heinrich and our board for their support and efforts made toward helping New Mexicans recover from devasting fires that impacted many of our communities,” said Isidoro Hernandez, Housing New Mexico Executive Director/CEO. “Workforce housing is needed now more than ever, and I look forward to the day when people move into these homes.”
Housing New Mexico, otherwise known as New Mexico Mortgage Finance Authority (MFA), was created in 1975 by the New Mexico State Legislature to provide quality affordable housing opportunities for all New Mexico residents. As the state’s housing authority, New Mexico Mortgage Finance Authority/Housing New Mexico uses housing bonds, tax credits and other federal, state and private resources to fund more than 40 housing programs. In addition to funding the construction and rehabilitation of affordable housing and rental properties, Housing New Mexico’s programs include down payment assistance, homelessness prevention and emergency shelter, weatherization services, rental assistance and housing for people with special needs which have provided over 500,000 families with affordable housing and services since its inception.
To learn more about Housing New Mexico, visit www.housingnm.org.