$10 Million in Capital Outlay Funding Awarded

Category: Non-Local News Releases Non-Local News Releases
Published: 07 December 2023 07 December 2023

$10 Million in Capital Outlay Funding Awarded to Public Infrastructure Projects in New Mexico MainStreet Districts

Strategic Investments Support Revitalization Efforts in 11 Communities to Improve Safety, Create Vibrant Destinations, and Support Local Economies

Santa Fe, N.M. – Today, the New Mexico Economic Development Department (EDD) and New Mexico MainStreet (NMMS) awarded $10 million in Capital Outlay funding to 11 community revitalization projects in affiliated NMMS Districts. The NMMS Capital Outlay program funds public infrastructure upgrades in targeted public investment areas to positively impact local economies. Projects directly support economic growth, property renovation, public safety, business development, and job creation.

“Capital Outlay funding from the New Mexico Legislature supports infrastructure projects statewide that upgrade utilities, improve public safety and ADA access, preserve historic assets, and much more. We’re grateful for this funding because these visible improvements make MainStreet districts safer and more accessible/welcoming for the entire community,” said Acting Economic Development Secretary Jon Clark.

NMMS works with districts to identify catalytic economic development projects based on the community’s Master Plan, Cultural Economic Development Plan or Metropolitan Redevelopment Area (MRA) Plan. Projects must impact the local economy, improve the appearance and functionality of the district, create connectors, and engage local property/business owners. Qualifying projects include improvements to streets, sewers, utilities, lighting, pedestrian safety, street amenities, wayfinding, landscaping, placemaking, and performance/gathering spaces.

“We’re thankful for the Legislature’s continued support for this vital program that transforms communities for the better. These public infrastructure projects are years in the making – they require innovative planning and coordination among many key players. Congratulations to this year’s award recipients and thank you to all the project partners for working diligently to improve New Mexico communities,” said NMMS Director Daniel Gutierrez.

Great Blocks on MainStreet projects are intensive infrastructure projects that dramatically upgrade a core two-three block commercial area in a district through the implementation of urban and landscape design, architecture, and creative economy projects.

The number of projects awarded is dependent on the Legislature’s appropriation to NMMS’s Capital Outlay Program. Capital Outlay funds are used to leverage/match other local, state, corporate, and foundation dollars to fully-fund projects. In the upcoming 2024 Legislative Session, EDD and NMMS are requesting another $10 million in Capital Outlay funding to support the planning, design, and construction of future and in-progress projects. NMMS’s public infrastructure project pipeline has a funding gap of $17.1 million for construction-ready projects.

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