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Developer seeks $1.5M in LITA funds for off‑base military housing after $15M NMFA loan award
Summary
Developer Brenner Campbell told the commission the New Mexico Finance Authority offered a $15 million loan for a phased project to build beds for junior service members; Campbell requested $1.5 million in city LITA funds for infrastructure to close a roughly $4.9 million gap and said construction could start in January.
Developer Brenner Campbell presented a proposal on Oct. 28 for an off‑base multifamily housing development aimed at junior enlisted service members assigned to Holloman Air Force Base.
Campbell said the total cost for the initial phase was about $19.9 million and that the New Mexico Finance Authority (NMFA) has approved a $15 million first‑lien loan for the project. He said the project, which would be located on the north side of Alamogordo near Mesa Verde Ranch Road, is designed as…
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