2011 New Mexico Statutes
Chapter 58: Financial Institutions and Regulations
Article 18C: New Mexico Housing Trust Fund, 58-18C-1 through 58-18C-9
Section 58-18C-6: Award of funds; accountability.
58-18C-6. Award of funds; accountability.
A. Trust funds shall be awarded on a competitive basis. The authority's staff shall work with the committee to develop an application and applicant scoring mechanism that encourages applicants to develop solutions that are responsive to local needs and are consistent with sound housing policy.
B. The authority's governing body shall be responsible for ensuring that on an annual basis the total funds awarded for housing activities attract at least three times as much funding from other sources.
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