Housing Development Revolving Fund
Public Comment
NMFA sought written public comment on the draft Housing Development Evaluation and Prioritization Policy and the draft revised Opportunity Enterprise Commercial Development Evaluation and Prioritization Policy. Public comments were accepted through June 25, 2024 and will be considered as the policies are created and revised.
Housing Development Evaluation and Prioritization Policy (DRAFT)
Revised Commercial Development Evaluation and Prioritization Policy – clean (DRAFT)
Revised Commercial Development Evaluation and Prioritization Policy – redlined (DRAFT)
About
The Housing Development Revolving Fund was created by HB195 in the 2024 legislative session and signed into law by Governor Michelle Lujan Grisham to address the housing crisis in many of New Mexico’s communities.
The Housing Development Revolving Fund is governed and overseen by the Opportunity Enterprise and Housing Development Review Board and is administered by NMFA. The program is expected to open in late summer 2024 and applications will be available on this webpage.
Application
Eligibility
The Housing Development Revolving Fund comprises two financing opportunities:
1. Financing for infrastructure for affordable housing.
2. Financing for the construction of workforce housing.
Both for-profit and nonprofit entities are eligible to apply.
Information
Information for potential applicants will be listed here. Please check back.
Application Process
TBD
Application Information
TBD
Loan Terms
TBD
Loan Amount
TBD
Use of Loan Funds
TBD
Required Documents
TBD
Review Process
TBD
Application Prioritization
TBD
HDRF Concentration Limits
TBD
About
The Housing Development Revolving Fund is governed by the Opportunity Enterprise and Housing Development Review Board and is administered by NMFA.
Questions? We’re happy to help. Please email OERF@nmfa.net.