Housing Development Revolving Fund

Invitation for Public Comment

NMFA is seeking written public comment on the draft Housing Development Evaluation and Prioritization Policy and on the draft revised Opportunity Enterprise Commercial Development Evaluation and Prioritization PolicyPublic comments will be accepted through June 25, 2024.

HOUSING DEVELOPMENT PROGRAM

Housing Development Evaluation and Prioritization Policy (DRAFT)

COMMENT FORM

COMMERCIAL DEVELOPMENT PROGRAM

Revised Commercial Development Evaluation and Prioritization Policy – clean (DRAFT)

Revised Commercial Development Evaluation and Prioritization Policy – redlined (DRAFT)

COMMENT FORM

 

Notice of Rulemaking and Public Hearings

Opportunity Enterprise and Housing Development Review Board

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

The application is expected to open in late summer 2024.

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.

Resources

Upcoming Opportunity Enterprise Review Board Meetings
House Bill 195 (2024 Session)