Restoring Our Communities Program
The Restoring Our Communities Program funds the acquisition, rehabilitation, and resale of single-family homes in New Mexico to boost affordable, energy-efficient housing.
Funder: New Mexico Mortgage Finance Authority
Due Dates: Rolling, first-come first-served (open until funds are exhausted)
Funding Amounts: $4,000,000 total for current NOFA; project management fee: up to 10% (urban, max $15,000) or 15% (rural, max $25,000) of total project cost per project
Summary: Funds the acquisition, rehabilitation, and resale of single-family homes in New Mexico to increase affordable housing and reduce vacancies.
Key Information: Open only to organizations, not individuals; only five open project awards per provider at a time.
Description
The Restoring Our Communities (ROC) Program supports the revitalization of New Mexico neighborhoods by funding the acquisition, rehabilitation, and resale of vacant or abandoned single-family homes. Administered by the New Mexico Mortgage Finance Authority (Housing New Mexico), the program aims to expand affordable homeownership opportunities for low- to moderate- and middle-income households (up to 150% of Area Median Income), while preserving and increasing the state's affordable housing stock. Funding is awarded to qualified service providers who manage the full cycle from property acquisition to resale, ensuring compliance with housing quality, energy efficiency, and green building standards.
