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2023 Restoring Our Communities Program

Restoring Our Communities (ROC) Notice of Funding Availability (NOFA)

ROC Overview:

The New Mexico Mortgage Finance Authority (MFA) 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. MFA 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.

MFA will administer 4 million dollars for the initial ROC Program NOFA

Eligible Agencies:

MFA 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 authority, 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 MFA.  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-middle income homebuyers. 

Acquisition of real property

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

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.

Resale

The resale of the property to an eligible homebuyer.

Resources:

ROC Notice of Funding Availability
ROC Service Provider Application (Exhibit A)
ROC Project Application (Exhibit B)
ROC Request for Reimbursement (Exhibit C)
ROC Set Up and Completion Form (Exhibit E)
ROC HQS Unit Inspection (Exhibit F)

Questions?

Please contact:

Theresa Laredo-Garcia
Program Development Manager
tgarcia@housingnm.org
Phone 505.767.2244

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