The Las Cruces City Council will meet at 1 p.m. Monday, Dec. 19, 2022, in Council Chambers at City Hall, 700 N. Main St., for a regularly scheduled meeting.
City Council will consider the adoption of a Resolution that would approve a precommitment of City funds for two federal low-income housing tax credit projects. The projects would be for affordable multi-family housing developments.
A request for funding assistance to create affordable housing was submitted to the Economic Development Department by New Mexico Housing and Community Development Corporation (NMHCDC) in partnership with Thomas Development Group for the Peachtree Canyon Project. A second request also was submitted by Thomas Development Co. for the Pedrena Senior Apartment Project.
Both projects are applying for 4 percent Low-Income Housing Tax Credit (LIHTC) funding through the New Mexico Mortgage Finance Authority (MFA). Successful applications for 4 percent LIHTC awards are projects that leverage additional resources from local governments and efficiently use tax credits.
City funding also provides an opportunity to invest funds in projects that directly address the low-income affordable housing needs in the community. The Peachtree Canyon Apartments is an affordable multifamily development at 7081 N. Jornada Road and Peachtree Hills Road.
The first phase of construction of Peachtree Canyon Apartments will create 144 affordable units. A second phase will offer another 144 units to meet the high demand and critical shortage of affordable housing in Las Cruces. The 288-unit apartment community will be the largest affordable housing project in Las Cruces history.
The second project, Pedrena Senior Apartments, is an 80-unit affordable multifamily development at 801 Farney Lane and 1955 El Paseo Road. The three-story building will include 74 units, a community room, computer center, management office, exercise workout room, and a secure package drop-off.
Both projects will be rent restricted for approximately 40 years.
Additionally, City Council will consider a Resolution proposing a new fee schedule for the City’s Community Development Department.
The proposed new fees include:
- A unified fee schedule that addresses all fees charged for activities related to construction and development.
- Fair market value fees for the local area.
- Fees in support of technology and staffing that are right sized to reflect industry demand.
- Fees that provide a minimum off-set of 80 percent of the cost of providing the services in the Las Cruces Development Center.
The proposed fee schedule does not include the various fees charged by other departments, nor does it include impact fees that are adopted using a separate methodology.
The agenda for Monday’s City Council meeting is available at https://lascruces.civicweb.net/Portal/MeetingInformation.aspx?Cal=Org&Id=376.
Monday’s City Council meeting will be televised live on CLCTV, Comcast Cable channel 20, and in high definition on Comcast Cable channel 928. The meeting also will be available online at YouTube.com/clctv20.
Immediately following Monday’s City Council meeting a brief Agenda Setting Meeting will be conducted in Council Chambers at City Hall to determine the agenda for the Council’s next meeting, at 1 p.m. Tuesday, Jan. 3, 2023.