Restoring Our Communities Program

*** Housing New Mexico is currently accepting applications for qualified service providers to administer the Restoring Our Communities (ROC) program. ***

ROC Notice of Funding Availability

ROC Notice of Funding Availability (NOFA) Overview

Housing New Mexico has developed the Restoring Our Communities (ROC) program to help meet New Mexico’s need for affordable housing units while assisting communities in reducing vacant and abandoned properties that reduce values within the community. The program will provide funding for the acquisition, rehabilitation, and resale of single-family properties with a goal to increase homeownership opportunities for low-moderate and middle-income households up to 150% Area Median Income (AMI). Housing New Mexico will work with eligible agencies to administer the program under applicable guidelines set forth in this Notice of Funding Availability (NOFA).

The program objectives are to:

1. Provide funding for acquisition and rehabilitation of vacant or abandoned properties to increase affordable housing units in New Mexico, and
2. Create and preserve affordable housing and provide affordable housing opportunities for low-moderate and middle-income homebuyers.

Housing New Mexico will administer $4 million for the initial ROC program NOFA.

Eligible Agencies:

Housing New Mexico will award ROC program funding to eligible applicants to include, but not limited to, public and private non-profit organizations, for-profit organizations, governmental housing agencies, authorities, entities, or instrumentalities, regional housing authorities, public housing authorities, tribal governments, tribal housing agencies, or housing authorities, developers, builders, corporations, limited liability companies, partnerships, joint ventures, syndicates, associations, or other entities that can assume contractual liability and legal responsibility through execution of a Performance Agreement and/or other written agreements with Housing New Mexico. Individual applicants are not eligible for the ROC program.

Eligible applicants can be located in any geographic area(s) within the State of New Mexico.

Eligible Activities:

ROC program funds may be used for acquisition, rehabilitation, and resale of real property to increase affordable housing units, reduce vacant and abandoned properties that reduce values within the community, and create homeownership opportunities for low-moderate and middle-income homebuyers.

Acquisition of real property

The process of gaining ownership or control of real property (real estate).

Rehabilitation

The improvement of the condition of a property from deteriorated or substandard to good condition. Rehabilitation may vary in degree from the extensive reconstruction to the cure of substantial accumulation of deferred maintenance. Approved applicants will ensure health and safety for all homebuyers.

Resale

The resale of the property to an eligible low-moderate or middle-income homebuyer.