Housing Innovation Program

Eligible Applicants:

Eligible applicants include, but are not limited to, non-profit organizations, for-profit organizations, governmental housing agencies or authorities, regional housing authorities, governmental entities, governmental instrumentalities, tribal governments, tribal housing agencies, developers, builders, corporations, limited liability companies, partnerships, joint ventures, syndicates, associations, or other entities that can assume contractual liability and legal responsibility by executing one or more written agreements entered into with Housing New Mexico. Individual applicants are not eligible for the Housing Innovation Program.

Eligible Funding Activities:

Only projects capital in nature will be considered for award and all activities must directly benefit a low- or moderate-income household. Awards will only be made for activities eligible under the New Mexico Housing Trust Fund Rules, which include:

• costs of infrastructure and infrastructure purposes
• financing in whole or in part through loans or grants, the costs necessary to support, operate or own affordable housing projectsTthe acquisition, construction, rehabilitation, renovation, reconstruction, alteration or repair of residential housing, multi-family housing, congregate housing facilities, transitional housing facilities
• buildings for use as or that will provide affordable housing

Planning activities, funding for operational expenses, and housing development projects that could be eligible for funding through another Housing New Mexico program will not be considered for an award through the Housing Innovation Program.

All awards will be subject to the availability of funds and the New Mexico Housing Trust Fund Act and Rules. Housing New Mexico will award no more than $500,000 to eligible applicants. Upon expenditure of 80% of its award, demonstration of successful project implementation, and provided that funds remain available to award under the NOFA, eligible applicants may request additional funding up to $500,000. Applicants must provide evidence and supporting documentation to justify that the award request is reasonable. Housing New Mexico will allocate only the minimum amount of funds that it determines to be necessary for the financial feasibility of a project and its viability.   

Timeline:

Resources:

• Housing Innovation NOFA
• Housing Innovation Service Provider Application
• Housing Trust Fund Act
• Housing Trust Fund Rules
• Accounting Practices Certification

Questions?

Contact:

Daniela Freamon
Program Manager
dfreamon@housingnm.org

Prior to application submission, Housing New Mexico encourages inquiries and contacts with its contact person from prospective applicants regarding the NOFA and/or sound housing project policies and procedures.