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Santa Fe County approves developer assistance awards to fill gaps on three affordable projects
Summary
The Board approved staff recommendations to use the county's $3.0M DAP pool — including a $2.0M DFA grant — to gap‑fund three affordable‑housing projects, awarding a $2.0M grant to Homewise (Terra Contenta Phase 3A) and recommending $500,000 awards to rehabilitate Anasazi Village/Casa Vida and to Santa Fe Civic Housing Authority as low‑interest loans or gap financing.
The Santa Fe County Board on July 27 approved staff recommendations from the county's Developer Assistance Program (DAP) to provide gap funding for several affordable‑housing projects.
Denise Benavides of the county's Community Development staff told the commission the DAP 2026 round had $3,000,000 budgeted: a $2,000,000 grant from the New Mexico Department of Finance and Administration (DFA) that must be spent by June 30, 2027, plus $1,000,000 from the county general fund. Benavides said staff received eight applications, two were withdrawn, and a review committee used a calibrated scoring framework that prioritized project feasibility and readiness. "Where less than the requested amount was awarded, staff confirmed with the applicant that the amount provided was sufficient to complete the project or a defined phase thereof," Benavides said.
Staff recommended making the $2,000,000 DFA award to Homewise for infrastructure on Terra Contenta Phase 3A as a grant, because the funded infrastructure will be owned by the City of Santa Fe and the DFA appropriation supports a grant. The county recommended $500,000 in low‑interest, cash‑flow loans to Lincoln Avenue Communities to complete rehabilitation at Anasazi Village and Casa Vida, and recommended $500,000 to the Santa Fe Civic Housing Authority to close a materials and capital‑stack gap for its previously awarded project (county staff said the authority had previously received $600,000 in the first round and requested another $600,000; staff recommended $500,000 as gap funding).
Commissioner Adam Johnson moved to approve the awards and Commissioner Camilla Bustamante seconded. The motion passed by voice vote with no opposition. County staff said letters of commitment will be issued to awardees and final transactional documents will return to the board for approval prior to closing.
Why it matters: county staff said the DAP awards are intended to catalyze shovel‑ready projects and to make applicants more competitive for additional state or federal funding; the DFA grant carries a June 30, 2027 expenditure deadline.
