Water Project Fund
Application for funding – now open
New Mexico Unit Fund Planning and Design Grant Application (Pilot Program)
The New Mexico Finance Authority, on behalf of the Water Trust Board, is soliciting applications for planning and design of water utilization projects to meet water supply demands in the southwest water planning region of New Mexico, encompassing Catron, Grant, Hidalgo and Luna counties. It is anticipated that an application for construction of water utilization projects will be available in the summer of 2025. The Interstate Stream Commission will make the final determination on the amount, scope and conditions of any award from the New Mexico Unit Fund.
If you have any questions about the application or the application process, please contact Susan Rodriguez at srodriguez@nmfa.net or (505) 984-1454. The NMISC encourages all eligible entities to apply for funding through the Pilot Cycle.
NM Unit Fund Evaluation Pilot Cycle Policy
The application period closes March 31, 2025.
About
Pursuant to the Water Project Finance Act, NMFA provides administrative support to the 16-member Water Trust Board and manages the Water Project Fund on its behalf. NMFA makes loans and grants for projects recommended by the Water Trust Board and authorized by the Legislature. With a reliable revenue stream to fund applications annually and a transparent set of policies that guide applicants, the Water Trust Board has become an increasingly sought-after source of funding for a variety of water projects statewide.
The Water Project Fund annually receives 9% of Senior Severance Tax Bond (“STB”) proceeds as well as a distribution from the Water Trust Fund. These monies are used to fund a variety of water projects recommended by the Water Trust Board and authorized by the Legislature. Water Trust Board awards are a combination of grants and loans, based upon the financial capacity of the applicants.
Under the Act, there are five project types eligible for consideration of financial assistance:
- Water conservation or recycling, treatment or water reuse projects;
2. Flood prevention projects;
3. Endangered Species Act (ESA) collaborative projects;
4. Water storage, conveyance or delivery projects;
5. Watershed restoration and management projects.
Qualified entities seeking funding for water projects from the Water Trust Board must submit an application each year even if the project has previously received legislative authorization.
Funding from the Water Project Fund is considered pursuant to the comprehensive Project Management Policies and the Water Trust Board Rules. This information may be downloaded through the Resources box to the right.
For more information about the Water Project Fund or how to apply, please email WTBAdmin@nmfa.net.