CITY of ALBUQUERQUE
TWENTY SIXTH COUNCIL
COUNCIL BILL NO. R-25-177 ENACTMENT NO. _________________
SPONSORED BY: Joaquín Baca
RESOLUTION
title
Appropriating Funding To Specific Affordable Housing Projects In City Council District 2 And Directing The City Administration To Facilitate The Determination That These Projects Are Qualifying Grantees (Baca)
body
APPROPRIATING FUNDING TO SPECIFIC AFFORDABLE HOUSING PROJECTS IN CITY COUNCIL DISTRICT 2 AND DIRECTING THE CITY ADMINISTRATION TO FACILITATE THE DETERMINATION THAT THESE PROJECTS ARE QUALIFYING GRANTEES.
WHEREAS, following the 2025 Legislative Session, the Governor of the State of New Mexico signed into law HB 450, which, in part, appropriated $7,562,000 to “acquire land and rights of way and to plan, design, construct, furnish, equip and rehabilitate affordable, transitional and supportive housing in Albuquerque”; and
WHEREAS, the Governor and the House Majority Whip provided letters to the City Council expressing their intent for the appropriation and specific use of the funds for “affordable housing in District 2, specifically in the Downtown and Barelas areas of Albuquerque” and instructed that the scope of this appropriation includes, but is not limited to: the development, preservation, or acquisition of affordable, transitional and supportive housing units, and site preparation or infrastructure improvements necessary to support such housing; and
WHEREAS, on May 5, 2025, the City Council adopted R-25-139, which authorized and approved the $7,562,000 appropriation, subject to the State’s requirements for affordable housing uses in the Downtown and Barelas Metropolitan Redevelopment Areas in Council District 2; and
WHEREAS, the City must also follow the New Mexico Department of Finance/Local Government Division process for capital outlay projects; and
WHEREAS, the “affordable housing exemption” to the Anti-Donation Clause of the New Mexico Constitution (Article IX, Section 14), in conjunction with the Affordable Housing Act, (NMSA 1978, §§ 6-27-1 et seq.), and Mortgage Finance Authority Act (NMSA 1978, §§ 58-18-1 et seq.) outline detailed requirements to ensure governmental entities donate affordable housing resources only to “Qualifying Grantees”; and
WHEREAS, the City’s Affordable Housing Implementing Ordinance (ROA 1994, §§ 14-21-1 et seq.) allows the City to donate affordable housing resources by City Council Resolution, and outlines additional procedures to ensure such resources are provided to “Qualifying Grantees”; and
WHEREAS, the Ordinance provides that “The City, in its discretion, shall procure services according to its Rules and Regulations, or shall otherwise identify a qualifying grantee for the use of any affordable housing funds”; and
WHEREAS, “Qualifying Grantees” are subject to final approval by the Mortgage Finance Administration (MFA); and
WHEREAS, the City Council has identified shovel-ready affordable housing projects in the Downtown and Barelas MR Areas in Council District 2 to receive this funding; and
WHEREAS, the Lomas Towers Apartments (Wells Fargo) commercial to residential conversion project is a major adaptive reuse effort to convert approximately 85% of the 14-story building into 100-120 workforce housing apartments, significantly boosting Downtown Albuquerque’s residential population and addressing the City’s housing shortage. The redevelopment will reserve the ground floor for retail, restaurant, and entertainment uses, helping to revitalize a corner of Downtown historically dominated by office and courthouse activity. With a total estimated cost of $50-60 million, the project combines private investment and anticipated public funding support, making it the largest office-to-residential conversion in New Mexico and a key step toward providing attainable housing for households earning 80% or less of the area median income; and
WHEREAS, The Romero is a community-driven development project in Barelas that will provide 69 affordable apartments for households earning between 30% and 80% of the area median income, directly addressing rising rental costs in the neighborhood. The project combines housing with 7,521 square feet of commercial space and several live-work units, fostering local entrepreneurship and creating a mixed-use hub for residents. Supported by the Barelas Community Coalition, this initiative aligns with the community’s Equitable Neighborhood Development strategy to ensure long-term, affordable, and inclusive growth; and
WHEREAS, the GIZMO Artspace project aims to transform a large downtown Albuquerque building into a vibrant hub for arts, small businesses, and community connection. Central to the project is the creation of six affordable, arts-based therapeutic reentry housing units designed to support young adults transitioning from incarceration, offering on-site counseling, mentorship, and career development opportunities. By combining affordable housing, professional artist studios, galleries, and local retail, the initiative seeks to revitalize the downtown corridor while providing stable, supportive housing and pathways to success for vulnerable residents.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. $7,562,000 identified in 2025 State Capital Outlay grant 25-J2714 is hereby appropriated to the following affordable housing projects located within the Downtown and Barelas Metropolitan Redevelopment Areas in City Council District 2. This funding is contingent upon the City’s determination that these projects are Qualifying Grantees and final review and approval by the Mortgage Finance Authority and the New Mexico Department of Finance/Local Government Division process for capital outlay projects.
GOAL AMOUNT TERM CONTRACTOR
LOMAS TOWERS APARTMENTS $5,000,000 3YRS LINCOLN
(MATCH) AVENUE COMMUNITIES/
GELTMORE LLC/
FAIRVIEW HOUSING
PARTNERS
THE ROMERO (MATCH) $1,931,249 3YRS PALINDROME/
BARELAS COMMUNITY COALITION
THE GIZMO ELEVATOR RENO $587,409 3YRS GOLDEN
FORWARD
THE GIZMO FACADE RENO $43,342 3YRS GOLDEN
FORWARD
SECTION 2. Pursuant to MFA Rules and following the process identified in the Affordable Housing Implementing Ordinance to “otherwise identify a qualifying grantee” the Administration shall accept applications from each of the projects identified in this Resolution. The Administration shall immediately initiate a review of each project to determine whether each applicant is a Qualifying Grantee, pursuant to MFA Rules. The Administration shall conduct its review in a fair and impartial manner with a goal toward approving these projects if possible. The Administration shall complete its review, and submit the Qualifying Grantees to MFA for final review, no later than October 15, 2025. If the Administration identifies any basis to determine that any of the applicants do not meet the MFA standards for a Qualifying Grantee, the Administration shall immediately notify the applicant and offer them an opportunity to provide supplemental information or otherwise rectify the issue. The City shall also comply with any requirements of the New Mexico Department of Finance/Local Government Division for capital outlay projects.
SECTION 3. SEVERABILITY. If any section, paragraph, sentence, clause, word or phrase of this Resolution is for any reason held to be invalid or unenforceable by any court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions of this Resolution. The Council hereby declares that it would have passed this Resolution and each section, paragraph, sentence, clause, word or phrase thereof irrespective of any provision being declared unconstitutional or otherwise invalid.
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