New Mexico Administrative Code

A. Pursuant to Section 6-30-7, NMSA 1978, the colonias infrastructure trust fund shall be administered by the state treasurer's office and shall be invested by the state investment officer in the same manner as land grant permanent funds are invested under state law. All investme…

A. The colonias infrastructure project fund shall be administered by the authority as a separate account, but may consist of such subaccounts as the authority deems necessary to carry out the purposes of the fund. B. Money from repayments of loans made by the board for qualified …

This rule may be amended or repealed at any time by a majority vote of a quorum of the board.

All persons or entities applying for financial assistance under the colonias infrastructure project fund administered by the New Mexico finance authority, NMSA 1978, 6-30-6 and NMSA 1978, 6-30-8.

NMSA 1978, 6-30-6 and NMSA 1978, 6-30-8.

Permanent.

February 15, 2012, unless a later date is cited at the end of a section.

A. Section 6-30-5, NMSA 1978 provides that the New Mexico colonias infrastructure board is required to adopt rules governing the acceptance, evaluation and prioritization of applications by qualified entities for financial assistance from the colonias infrastructure project fund;…

A. "Act" means the Colonias Infrastructure Act, Sections 6-30-1 through 6-30-8, NMSA 1978, as the same may be amended and supplemented. B. "Agreement" means the document or documents signed by the board and a qualified entity which specify the terms and conditions of obtaining fi…

The board will develop and consider a variety of factors in reviewing and evaluating colonias infrastructure project proposals to determine which colonias infrastructure projects to recommend to the authority as qualified projects for financial assistance from the colonias infras…

A. The board and the authority will administer an outreach program to notify qualified entities that colonias infrastructure project proposals are being accepted to identify colonias infrastructure projects for review by the project review committee and the board for prioritizati…

Economic development department.

Quarterly payments to recovery entities shall be determined by taking the initial per job calculation above and multiplying it by the number of FTE being claimed by the recovery entity for a given quarterly period. The per job amount may be reduced if the New Mexico finance autho…

Quarterly payments to recovery entities are limited to the lesser of twenty-five percent of the provisional grant award or the eligible amount under the requirements and calculations set forth in this rule. The maximum amount that may be distributed in total to a recovery entity …

A. A recovery entity must provide its quarterly unemployment insurance filings with the department of workforce solutions (ES903A) at time of application for the quarter ending March 31, 2021 and, if applicable, the most recent quarterly ES903A filed with the department of workfo…

To prove payment of rent, mortgage or lease, a recovery entity must complete the affirmation provided by the economic development department to the New Mexico finance authority for distribution to recovery entities, along with proof of payment including a bank statement, canceled…

All persons or entities applying for grants for the reimbursement of rent, lease or mortgage payments pursuant to House Bill 11 of 1st Session of the 55th Legislature (hereafter, the "LEDA Recovery Grants Legislation").

Section 5-10-16 NMSA 1978 (hereafter, the "LEDA Recovery Grants Legislation").

Permanent.

November 30, 2021, unless a later date is cited at the end of a section.

Explanatory note: On March 11, 2020, in response to the presence in New Mexico of a highly contagious respiratory novel coronavirus disease known as COVID-19, Governor Michelle Lujan Grisham declared that a public health emergency exists in New Mexico under the Public Health Emer…

A. "Full-time-equivalent employee or FTE" is defined as an employee who works an average of 40 hours or more per week from their qualifying date of hire throughout the quarterly qualification period. The hours of employees who work fewer than 40 hours are calculated as proportion…

The maximum employee count in House Bill 11 of "fewer than 75 people employed at any of the business's business locations" for a business to qualify as a recovery entity includes all employees, both full- and part-time employees.

Pursuant to the Local Economic Development Act, the recovery grant shall be accompanied by net new FTE job creation. As part of the initial application, the recovery entity shall estimate the net new FTE to be created from the initial qualifying date of hire through March 31, 202…

New Mexico Opportunity Enterprise and Housing Development Review Board.

A. The board may recommend to the authority that enterprise assistance from the fund should be made available for enterprise development projects as provided by Section 6-34-6, NMSA 1978. B. Enterprise assistance from the fund shall be made only for eligible items, a determined b…

The authority may recommend structured enterprise assistance packages that include opportunity enterprise financing, opportunity enterprise leases, opportunity enterprise loans, or other type of assistance authorized by the authority and the board, if applicable. The structure, t…

Based on the priority and evaluation factors set forth in Sections 8, 9, and 10 above, as well as the requirements of the Act, the board may recommend to the authority enterprise development projects for consideration of enterprise assistance. Board recommendations may be conside…

(Reserved.)

A. The authority and opportunity enterprise partner awarded enterprise assistance will enter into a contract to establish the terms and conditions of enterprise assistance from the authority. The contract to provide enterprise assistance shall: (1) define the roles and responsibi…

The board will determine which housing development projects to recommend to the authority for housing development assistance from the housing development revolving fund. Board policies shall give priority to projects that: A. demonstrate local support and need, B. create or expan…

A. The board will administer an outreach program to local governments and potential housing development partners for the purpose of making recommendations to the authority regarding housing assistance, and to notify applicants that housing development project proposals are being …

A. The board may recommend to the authority that housing development assistance from the housing development revolving fund should be made available for housing development projects as provided by Section 6- 34-13.3, NMSA 1978. B. Housing development assistance from the housing d…

The authority may recommend structured housing development assistance packages that include housing development loans. The structure, terms and conditions will be determined by the authority.

Based on the priority and evaluation factors set forth in Sections 15, 16, and 17 above, as well as the requirements of the act, the board may recommend to the authority housing development projects for consideration of housing development assistance. Board recommendations may be…

All persons or entities applying for enterprise assistance under the opportunity enterprise revolving fund and housing development assistance under the housing development revolving fund administered by the New Mexico finance authority, Sections 6-34-8, 6-34-12, 6-34-13.1 and 6-3…

Any applicant affected by a decision of the board may request reconsideration of the decision of the board by notifying the board in writing within 15 days following the meeting at which the decision was made. Notice of a decision made in an open meeting of the board is deemed to…

Sections 6-34-6 and 6-34-7, NMSA 1978.

Permanent.

April 25, 2023, unless a later date is cited at the end of a section.

A. Section 6-34-3, NMSA 1978, provides that the authority may adopt separate rules to administer the opportunity enterprise revolving fund and the housing development revolving fund to originate enterprise assistance and housing development assistance for projects recommended by …

A. "Act" means the Opportunity Enterprise and Housing Development Act, Sections 6-34-1 through 6-34-15, NMSA 1978, as the same may be amended and supplemented. B. "Affordable housing infrastructure project" means infrastructure projects needed to support housing for low- or moder…

The board will develop and consider a variety of factors in reviewing and evaluating enterprise development project proposals to determine which enterprise development projects to recommend to the authority for enterprise assistance from the fund. Board policies shall give priori…

A. The board and the department will administer an outreach program to local governments and potential opportunity enterprise partners for the purpose of making recommendations to the authority regarding enterprise assistance, and to notify applicants that enterprise development …

Economic Development Department.

All persons or entities applying for Local Economic Development Act funds through the Economic Development Department.

The general management of the Local Economic Development Act (LEDA) program shall be the responsibility of the economic development department as prescribed by governing legislation, Section 5-10-1 NMSA 1978.