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Commission approves Colonia Infrastructure Fund applications for electric upgrades and Marie Street work
Summary
The commission approved resolutions to apply to the New Mexico Colonia Infrastructure Fund: a revised $12 million request for electric system upgrades (10% match expected) and a $1.5 million Marie Street project (requesting ~$1.3M grant with ~10% loan/match).
Miss Alvarez told the commission the city would submit required resolutions to apply to the New Mexico Finance Authority's Colonia Infrastructure Fund, and the commission approved both applications.
On the electric department application, Alvarez said the city increased its request from $5 million to $12 million to fund systemwide grid improvements including poles, transformers, conductor and substation work; she cautioned eligibility will be determined by the authority but said the electric department could provide the roughly 10% match if awarded. "We've decided to increase our request from 5 million to 12 million for the electric department," Alvarez said. The commission approved the revised notice of intent.
Alvarez also presented a Marie Street application with a total project cost of $1.5 million and a requested Colonia grant of about $1.3 million; that request would carry a ~10% loan/match (about $136,000). Commissioners noted they had sought some state capital-outlay support for planning and discussed phasing the project if funds are awarded. Staff said capital-outlay funds cannot be used as match for Colonia loans.
Both resolutions passed unanimously. Commissioners asked staff to continue pursuing matching funds and to return with contract or implementation details if the applications are successful.
