Commission authorizes NMFA loan/grant documents for Marie Street improvements
The commission authorized execution of NMFA Colonial infrastructure fund grant and loan documents to finance Marie Street improvements: roughly 90% grant and 10% loan (~$1.3M) with a local cash match of about $136,000, for an approximate total project near $1.5 million.
The full story
City staff presented the Marie Street improvements project financing and asked the commission to authorize execution of the New Mexico Finance Authority (NMFA) Colonial Infrastructure Fund grant and loan documents. The presenter said the award is roughly 90% grant and 10% loan, with a cash match of $136,000, producing a project total near $1.5 million.
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