Workers paint a new apartment complex near Old Town Albuquerque in December 2022. The New Mexico Finance Authority approved more than $50 million in housing loans for developers, the executive director said recently. (Patrick Lohmann/Source NM)
The leader of the New Mexico Finance Authority on Friday said the authority has already approved more than one-third of $125 million in housing-related loans, which were a key part of the Legislature’s “historic” housing spending in 2024.
NMFA CEO Marquita Russel provided an update on the status of the authority’s loan fund Friday during a presentation to an interim legislative committee. Lawmakers in 2024 approved nearly $200 million in new housing-related spending, citing a growing shortage and homelessness crisis…