Colonias Infrastructure Fund
In 2010, the New Mexico Legislature adopted the Colonias Infrastructure Act to help certain communities in Southern New Mexico that lack basic infrastructure for water and wastewater, solid waste disposal, flood and drainage control, roads and housing. The purpose of the Act is to ensure adequate financial resources for infrastructure development for Colonia-recognized communities, provide for the planning and development of infrastructure in an efficient and cost-effective manner, and develop infrastructure projects to improve quality of life and encourage economic development.
Applicants: Local governments, including counties, cities and mutual domestic water consumers associations. Qualified entities must be able to demonstrate adequate capacity to construct and operate the project over the long-term
Projects: Planning, design, and construction
Terms: Funds are delivered as 90% grant, 10% loan, with provisions for loan waivers. The loans are structured with terms of up to 20 years at 0% interest
Other: Projects are selected by the Colonias Infrastructure Board and recommended to NMFA for funding
NMFA administers the application process on behalf of the Colonias Infrastructure Board. The Colonias Infrastructure Board’s policies provide additional information for the application system. Following the submission of the application, a legal review to determine if the entity and/or the project is eligible as defined under the Colonias Infrastructure Act, NMSA 1978 will decide which projects can move forward. All applicants are required to provide additional information directly to regulatory agencies that will certify compliance with all relevant regulations as well as provide evidence of project readiness.
For more information about the Colonias Infrastructure Program, email email@example.com.