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New Mexico Preservation Loan Fund (NMPLF)

NEW MEXICO AFFORDABLE HOUSING

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Funding Amount

Varies

Deadline

Rolling / Open

Grant Type

foundation

Overview

New Mexico Preservation Loan Fund (NMPLF)

Status: Created in 2023

Geographic Scope: New Mexico statewide

Overview: A flexible funding source for multifamily properties at-risk of exiting the affordable housing stock, providing opportunities for the preservation of affordable housing in the state of New Mexico.

Eligible Applicants:

  • Property owners

  • Developers

  • Other partners

    • Eligible Uses:

  • Rehabilitation funding for owners struggling with physical upkeep as their multifamily property ages

  • Acquisition financing for prospective owners seeking to acquire multifamily affordable projects and maintain their affordability over time

  • Predevelopment funding for existing LIHTC properties pursuing resyndication

    • Key Features:

  • Aims to provide interest rates and loan terms more flexible than traditional financial institutions

  • Supports preservation-oriented needs

  • Can pair with tax credits to extend property financial feasibility

    • Focus Areas: Multifamily property preservation and affordability maintenance

    Contact Information:

  • Housing New Mexico

  • 7425 Jefferson St NE

  • Albuquerque, NM 87109

  • Phone: 505-843-6880

  • Toll-free: 1-800-444-6880

    • Focus Areas & Funding Uses

    Fields of Work

    affordable-housinghousing

    Categories

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