County approves revenue bonds for Casitas del Camino and moves to create Housing Development Division as state funds await signature

Bernalillo County commissioners on March 25 approved a project revenue bond ordinance that will act as a conduit issuer for the Casitas del Camino affordable housing project and later voted to authorize the county’s next steps to expand housing development capacity.

Economic development staff told the board that the Casitas del Camino project at Coors and Central will rehabilitate 42 existing units and construct 46 new units, with the overall financing drawn from 4% low‑income housing tax credits, the city of Albuquerque’s Workforce Housing Trust Fund, commercial debt and equity. Executive Development Officer Gonzales said the County’s bond role is procedural but necessary: the affordable‑housing tax credits and a volume‑cap allocation from the State Board of Finance require issuance of a bond as part of the capital stack. Gonzales said the project…