Opportunity Enterprise – Housing Development Program
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 Program consists of loans for the construction of workforce housing and loans for infrastructure for affordable housing.
The Housing Development Program 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.
For updated information as the program is developed, please join the mailing list here.
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.