District 1

County Commission Approves Project Revenue Bonds for Martineztown Housing Development

07/01/2020

Bernalillo County commissioners approved the issuance of $7.5 million in project revenue bonds for the Albuquerque Housing Authority to be used for The Commons at Martineztown in central Albuquerque.

The tax-exempt bonds will fund the renovation of 96 existing affordable housing units in The Commons at Martineztown to house low-income senior residents and residents with disabilities.

“This will upgrade existing housing for residents and transition the houses to the project based Section 8 rental assistance program,” says County Commissioner Debbie O’Malley. “That means more federal money will be available to assist county residents.”

The rehabilitation and renovation will allocate about $70,000 per unit and will include window replacement, new cabinetry, doors and roofs, as well as upgraded interior and exterior finishes.

Project revenue bonds are privately funded bonds used for construction or rehabilitation of multi-family housing projects for low-income individuals and allow property tax exemptions.

The commission approved the bonds on a 5 to 0 vote.

back to list
View All Events
Latest News
  • Bernalillo County, in partnership with the Albuquerque Indian Center, accepted the certificate of occupancy on the Tiny Home Village project and has welcomed the first residents to the community loca...

  • Bernalillo County commissioners have each donated $6,500 from their district funds to help those experiencing homelessness totaling $32,500 for local nonprofits. The county identified four organiz...

  • The Tiny Home Village (THV) has received a donation of 30 queen-sized mattresses from the local stake of the Church of Jesus Christ of Latter Day Saints. (CJCLDS) THV is a housing initiative desig...

Upcoming Events
    Powered by Real Time Solutions - Website Design & Document Management