NMFA Board of Directors approves Housing Innovation Program

Category: Local News Releases Local News Releases
Published: 30 January 2024 30 January 2024

VistaDePlataAt its December 2023 meeting, the New Mexico Mortgage Finance Authority (MFA) Board of Directors – acting as the as trustee of the New Mexico Housing Trust Fund – approved $500,000 in funding to the Town of Silver City’s Vista de Plata Affordable/Workforce Housing Subdivision as part of MFA’s Housing Innovation Program. The Vista de Plata subdivision provides affordable workforce housing in Silver City to help community members become homeowners. The funding provided through the Housing Innovation Program will go toward Phase 3 of the project, covering infrastructure costs, including drainage, grading and secondary conduit installation. (Photo courtesy Southwest New Mexico Council of Governments)New Mexico Mortgage Finance Authority Board of Directors approves Housing Innovation Program funding awards to New Mexico Ramp Project and Town of Silver City

ALBUQUERQUE, N.M. – At its December meeting, the New Mexico Mortgage Finance Authority (MFA) Board of Directors – acting as the trustee of the New Mexico Housing Trust Fund – approved $1 million in funding for two projects as part of MFA’s Housing Innovation Program. The board approved awards of $500,000 to the New Mexico Ramp Project and $500,000 to the Town of Silver City’s Vista de Plata Affordable/Workforce Housing Subdivision.

The Housing Innovation Program was approved by the MFA Board of Directors in September 2023 as a resource to address housing needs that are currently unmet by other MFA programs. The program provides eligible applicants with the opportunity to fund community tailored housing solutions, utilizing the $5 million available from the New Mexico Housing Trust Fund. This initiative aids underserved populations, cultivates new partnerships and funds scalable projects.

“Both the New Mexico Ramp Project and Vista de Plata provide innovative solutions to address specific housing needs of New Mexicans,” said Isidoro Hernandez, MFA Executive Director/CEO. “This program funding from the New Mexico Housing Trust Fund allows us to think outside the box and be creative when it comes to addressing the affordable housing challenges we face in New Mexico.”

NMRampProjectAt its December 2023 meeting, the New Mexico Mortgage Finance Authority (MFA) Board of Directors – acting as the trustee of the New Mexico Housing Trust Fund – approved $500,000 in funding to the New Mexico Ramp Project as part of MFA’s Housing Innovation Program. The New Mexico Ramp Project is a 501(c)3 nonprofit community-based organization that brings together volunteers to “build independence for those in need” by building wheelchair ramps in homes. With the funding from MFA, the New Mexico Ramp Project seeks to scale operations to provide at least 100 ramps in the homes of low-income to moderate-income disabled New Mexicans. (Photo courtesy New Mexico Ramp Project)The New Mexico Ramp Project is a 501(c)3 nonprofit community-based organization that brings together volunteers to “build independence for those in need” by building wheelchair ramps in homes. With the funding from MFA, the New Mexico Ramp Project seeks to scale operations to provide at least 100 ramps in the homes of low-income to moderate-income disabled New Mexicans.

“The ability of disabled individuals to get in and out of their homes without injury is a huge, hidden issue in the state of New Mexico,” said Greg Hallstrom, New Mexico Ramp Project Executive Director. “Based on census and Center for Disease Control data, there are more than 288,000 individuals in New Mexico that have ‘serious difficulty walking or climbing stairs.’ Many of them live in facilities that have ramps, but there are still thousands of ramps needed in the state. We will build ramps for low-income, disabled individuals at no cost to them using local community volunteers, who are working from Shiprock to Hobbs and many places in between.”

The Vista de Plata subdivision provides affordable workforce housing in Silver City to help community members become homeowners. The funding provided through the Housing Innovation Program will go toward Phase 3 of the project, covering infrastructure costs, including drainage, grading and secondary conduit installation.

“The Town of Silver City is excited to move on the Vista de Plata workforce housing subdivision in partnership with Grande Silver City, Thompson Realty and the Southwest New Mexico Council of Governments,” said Priscilla Lucero, Southwest New Mexico Council of Governments Executive Director.

Only capital projects are considered for a funding award, and all activities must directly benefit low- or moderate-income households, including working families. Only projects not applicable to other MFA programs may be submitted to the Housing Innovation Program for consideration.

Past Housing Innovation Program projects include – but are not limited to – roof repair and replacement, homeless shelter expansion, accessibility improvements for senior homeowners and scattered-sight transitional housing for participants in a workforce integration program. 

The Notice of Funding Availability will remain open until the funds are expended. Application forms are available on the MFA website at https://housingnm.org/rfps/rfps-rfqs .

For inquiries about the Housing Innovation Program, please contact Daniela Freamon at 505-767-2277 ordfreamon@housingnm.org

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