Created in 2002, funded and administered through the New Mexico Finance Authority (NMFA), the fund provides up-front capital necessary to allow for proper planning of vital water and wastewater projects. The 2005 and 2012 Legislatures broadened project eligibility to include master plans, conservation plans, economic development plans, infrastructure plans and energy efficiency audits. Additionally, the 2012 Legislature eliminated the requirement to repay the fund if the project moves forward and the funding is now delivered as 100% grant. Grants are determined on a sliding scale. Through December 31, 2012, NMFA has made 92 grants totaling $2,585,718 and has approved an additional 31 projects pending closure totaling $1,343,019.
Economic Development Plan Requirements contained in the Certified Community Initiative for plans developed to implement the Local Economic Development Act. The New Mexico Economic Development Department developed the Certified Community Initiative. Historically, the NMEDD has served as NMFA’s reviewing agency for these plans. Program applications begin with a request for a letter of support from the Economic Development Department Secretary, through the Finance Development Director. Upon completion, project output must be reviewed and approved by the EDD Secretary.
Application along with Letter of Support (LOS) should be submitted to:
Sr. Program Administrator, Local Government Planning Fund/Colonias
New Mexico Finance Authority
207 Shelby Street
Santa Fe, NM 87501
PHONE: (505) 984-1454