The New Mexico Mortgage Finance Authority (MFA) has announced that its board of directors has approved $1 million in funding for two projects through the MFA's Housing Innovation Program. The decision resulted in awards of $500,000 each to the New Mexico Ramp Project and the Town of Silver City’s Vista de Plata Affordable/Workforce Housing Subdivision.
The New Mexico Ramp Project is an initiative that mobilizes volunteers to construct wheelchair ramps, promoting independence for those in need. With the funding from MFA, the project aims to expand its operations by building at least 100 ramps for low- to moderate-income disabled New Mexicans. On the other hand, the Vista de Plata subdivision in Silver City provides affordable workforce housing, enabling community members to become homeowners, according to a press release by MFA.
"Both the New Mexico Ramp Project and Vista de Plata provide innovative solutions to address specific housing needs of New Mexicans," said Isidoro Hernandez, MFA Executive Director/CEO, as per a press release by MFA. "This program funding from the New Mexico Housing Trust Fund allows us to think outside the box and be creative when it comes to addressing the affordable housing challenges we face in New Mexico."
"The ability of disabled individuals to get in and out of their homes without injury is a huge, hidden issue in the state of New Mexico," stated Greg Hallstrom, Executive Director of the New Mexico Ramp Project, according to a press release by MFA.
MFA's mission is to ensure access to quality affordable housing and related services for low- and moderate-income residents of New Mexico. Utilizing resources from housing bonds, tax credits, and diverse federal and state agencies, MFA facilitates various initiatives including development of affordable rental communities, restoration of aging homes, provision of down payment assistance and affordable mortgages, provision of emergency shelter, and management of rental assistance and subsidies. This information was provided on MFA's 'About' webpage.