WASHINGTON— U.S. Senators Tom Udall (D-N.M.) and Martin Heinrich (D-N.M.) announced that NeighborWorks, a congressionally-chartered, nonpartisan nonprofit, has awarded a $1 million grant to fund the development of family rental units and for-sale housing in New Mexico. The grant will also fund lending support for residential mortgages, down-payment assistance and commercial small businesses.
“Affordable, safe and well-built housing options are imperative building blocks for strong, healthy communities,” said Udall, senior member of the Senate Appropriations Committee. “As the Trump administration continues to try and gut federal government support programs for affordable housing options, it is vital that Congress remains committed to ensuring that these communities receive the funding they need. I'm proud of the work these organizations are doing to revitalize communities across New Mexico, and I'll continue to fight for resources to support affordable housing initiatives."
“Putting the dream of homeownership within reach for more New Mexicans will help create jobs and build stronger communities,” Heinrich said. “I look forward to working with Native Partnership for Housing, Tierra del Sol Housing Corporation, Homewise Inc., and others in providing safe, affordable housing for families across our state.”
The Neighborhood Reinvestment Corporation, also known as NeighborWorks America, is a congressionally chartered nonprofit, funded in part by federal appropriations. NeighborWorks helps to build the skills, supplement the funding and amplify the reach of grassroots organizations through comprehensive approaches to affordable housing and community development. NeighborWorks will work with grassroots organizations Homewise, Inc., the Native Partnership for Housing, Inc., and the Tierra del Sol Housing Corporation to distribute the funds.
The breakout funding for each organization is below:
Homewise, Inc. $572,000
Native Partnership for Housing $205,000
Tierra del Sol Housing Corporation $270,000