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Las Cruces to participate in state 'rehab-to-rental' program to help voucher holders and landlords
Summary
Council approved participation in Housing New Mexico's pilot rehab-to-rental program, which offers up to $25,000 per unit in forgivable loans to bring voucher-eligible rental units up to inspection standards and requires five-year voucher occupancy conditions.
The Las Cruces City Council voted April 20 to participate in Housing New Mexico’s rehab-to-rental program, a state-administered initiative that provides forgivable loans (typically up to $25,000 per unit) to bring rental units into compliance with inspection standards so tenants using housing vouchers can occupy them.
Kevin Wilson of the city’s Housing and Neighborhood Services said the program is designed to increase the supply of affordable units that can pass required inspections and obliges participating landlords to rent…
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