Senator Cindy Nava (D-Bernalillo) said that Senate Bill 48, which establishes the Community Benefit Fund (CBF), is an essential tool for promoting sustainable and affordable housing in New Mexico. She made this statement in a press release on February 25.
"The Community Benefit Fund is critical to continuing that work," said Nava, New Mexico State Senator. "I saw firsthand the benefits of sustainable housing systems on community resilience, and housing affordability."
Senate Bill 48 allocates $340 million to support clean energy, grid reliability, sustainable transportation, and the economic transition from fossil fuels. Administered by the Department of Finance and Administration (DFA), the bill mandates public input on projects and requires annual legislative reports.
According to the Los Alamos Daily Post, the CBF will support key projects across New Mexico, including the Mora County Complex Community Center for disaster response, the Kit Carson Electric Microgrid for rural energy reliability, and the City of Jal Affordable Housing Initiative to provide sustainable, cost-efficient housing for working families.
Pew reports that New Mexico's housing crisis has been fueled by a 60% increase in rent from 2017 to 2024 and a 70% rise in home prices, with median home costs exceeding $300,000. The state’s housing inventory has dropped by 50% since 2018, worsening affordability and homelessness, which has risen 87% statewide and 108% in Albuquerque.
Nava is a first-generation college graduate, former DACA recipient, and ex-White House policy advisor who is now a U.S. citizen. According to her website, she advocates for education, housing, and healthcare access in New Mexico.
