The Las Cruces City Council will meet at 1 p.m. Monday, March 6, 2023, in Council Chambers at City Hall, 700 N. Main St.
The Council will consider a Resolution that could approve a pilot program for an affordable homeownership revolving loan fund, proposed by the City, that would facilitate the development of affordable single-family housing. The Revolving Loan Fund could offer a solution to the current affordable housing crisis, which disproportionately impacts low- and moderate-income households.
The Revolving Fund will be initially supported at $500,000 from the Affordable Housing Trust Fund in accordance with the Las Cruces Municipal Code 1997, as amended, Chapter 13 Division II: Affordable Housing General Oversight Ordinance. The Revolving Fund is intended to incentivize developers to create modestly sized and priced homes that appeal to first-time homebuyers or other homebuyers who earn as much as 120 percent of Area Median Income.
The goal of the City’s funding is to help lower the costs for eligible developers constructing homes in a single-family housing development by providing low-interest construction loans to reimburse developers for land acquisition costs, on-site infrastructure costs, and construction costs.
City Staff is recommending an initial partnership with Tierra Del Sol Housing Corporation, a nonprofit affordable housing developer and qualified grantee constructing affordable housing in the Metro Verde Planned Unit Development.
Also, at Monday’s meeting, City Council will consider adoption of a Resolution that would update the guidelines for naming, or renaming, city streets, and property addressing. The policy and guidelines utilized by the City were adopted with Resolutions approved by the Council in 1980.
The City’s Community Development Department has reviewed the current guidelines and proposes they be updated. The update would involve the adoption of a new policy document, “Address and Roadway Name Guidelines.”
The proposed policy document adds a purpose statement; updated graphics; clarification of addressing, general roadway, new roadway, and roadway renaming criteria and conventions; and updated processes for assigning property addresses and naming roadways. The new guidelines also would add processes and criteria to prohibit and eliminate derogatory, discriminatory, racist, or vulgar roadway names.
The agenda for Monday’s City Council meeting is available at https://lascruces.civicweb.net/Portal/MeetingInformation.aspx?Org=Cal&Id=504.
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 streamed live at clctv.com and at YouTube.com/clctv20.