MFA Supports Village of Ruidoso in Creating Workforce Housing for Wildfire Victims
The New Mexico Mortgage Finance Authority (MFA) participated in a ribbon cutting for the celebration of the newest housing development in Ruidoso, Mechem Meadows. MFA supported the Village of Ruidoso by providing a $400,000 no-interest loan in June of 2022. Just over a year later, the project has opened to the public, aiming to offer affordable housing for families affected by wildfires.
In April 2022, MFA’s Board of Directors approved the Emergency Housing Needs Pilot Program. This program was created out of necessity to be used as a mechanism for MFA to quickly deploy assistance in response to emergency housing situations.
“The strong community support at the ribbon cutting for Mechem Meadows demonstrates that affordable housing development can be built in the heart of Ruidoso,” said Julie Halbig, the Director of Compliance and Initiatives.
In 2022, representatives from the Village of Ruidoso approached MFA seeking housing assistance for 17 households displaced by the McBride wildfire in Ruidoso. The fire destroyed 6,159 acres of residential land, including 200 homes. In response to this urgent need, Ruidoso generously donated three separate tracts of land for the installation of manufactured homes that can be rented or purchased. Through a combination of legislative appropriations and other collaborative partnerships, Mechem Meadows will offer affordable housing options in the heart of the Village.
The Mechem Meadows development has successfully placed manufactured homes on the acquired property held in the Village of Ruidoso Housing Trust. These homes are currently being leased to displaced families of the McBride fire and Ruidoso’s workforce, following an application process.
MFA’s Executive Director and CEO Isidoro Hernandez congratulated Mayor Lynn D. Crawford and Ron Sena, Interim Village Manager, for all their work in making Mechem Meadows a reality. “Each and every project is a massive undertaking for everyone involved, but we’re proud to see our continued partnerships in affordable housing coming together to strengthen communities throughout New Mexico,” said Isidoro Hernandez.
Through the Emergency Housing Needs Pilot Program, MFA has demonstrated its ability to promptly respond to housing crises, including those caused by natural disasters. To date, MFA has provided assistance for 2 emergency housing projects and will continue to serve New Mexico as its state housing agency. The ribbon cutting at Mechem Meadows symbolizes a new beginning for an otherwise devastating situation.