Funds available through NM Preservation Loan
Santa Fe, NM – Funding is now available through The New Mexico Preservation Loan Fund, a flexible funding source for multifamily properties at risk of exiting the affordable housing stock.
According to Housing New Mexico, organizations or agencies can request up to $2 million to bring a property up to date. Improvements such as physical upkeep, financing for prospective owners who seek to acquire affordable multifamily projects over time, and predevelopment funding for existing Low-Income Housing Tax Credit properties pursuing re-syndication are all included as property improvements that would qualify entities for a loan.
Those eligible include but are not limited to non-profit organizations, for-profit organizations, governmental housing agencies, entities, and instrumentalities, regional housing authorities, tribal governments and housing agencies, builders, corporations, limited liability companies, partnerships, joint ventures, syndicates, and associations.
More information about the New Mexico Preservation Loan Fund is available at https://housingnm.org/
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