New Mexico Finance Authority Announces Notice of Funding Availability

Category: Local News Releases Local News Releases
Published: 19 October 2014 19 October 2014

2015 Colonias Infrastructure Project Fund workshops to be held

COLONIAS INFRASTRUCURE ACT: The purpose of the Colonias Infrastructure Project Fund ("Fund") is to help address inadequate infrastructure in Colonia-recognized communities as provided for in the Colonias Infrastructure Act, Section 6-30-1 through 6-30-8, NMSA 1978, as amended, that has resulted in poor social, health and economic conditions. Using the resources provided through the Fund, the Colonias Infrastructure Board ("Board") will support the planning and development of infrastructure in an efficient and cost-effective manner for projects that improve quality of life for Colonia residents and encourage economic development.

Pursuant to Section 7-27-12.5, NMSA 1978, as amended, the Board of Finance Division of the Department of Finance and Administration shall allocate five percent (5%) of the estimated severance tax bonding capacity for Colonias infrastructure projects and issue severance tax bonds in the annually allocated amount for use by the Board to fund qualified colonias projects.

FUNDING AVAILABILITY: This notice announces the availability of an estimated $17.4 million in Severance Tax Bond proceeds to be made available to the Colonias Infrastructure Project Fund for allocation in the 2015 funding cycle. The Board will make awards to qualified entities for eligible projects including infrastructure for water, waste water, solid waste disposal facilities, flood and drainage control, roads/drainage infrastructure, housing infrastructure, and planning grants for eligible infrastructure projects.

APPLICATION WORKSHOPS: There are three (3) application workshops scheduled for the 2015 funding cycle:
➢ November 04, 2014 9:00a – 12:00p
South Eastern Economic Development District
1600 SE Main Street
Roswell, NM.
➢ November 05, 2015 10:30a – 1:30p
Mesilla Community Center
2251 Calle de Santiago
Mesilla, NM.
➢ November 06, 2014 10:00a – 1:00p
Andres Z. Silva Conference Center
119 E. Pine Street
Deming, NM.

The application round opens on November 03, 2014 and closes on January 16, 2015, applications MUST be physically received in the NMFA Office no later than 5:00pm on January 16,

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