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New Mexico Mortgage Finance Authority: Neighborhood Stabilization Program

Deadline: October 18, 2019

New Mexico Mortgage Finance Authority (MFA) has received funds from the U.S. Department of Housing and Urban Development (HUD) for the Neighborhood Stabilization Program (NSP). The NSP is authorized under the Housing and Economic Recovery Act of 2008 (HERA), and provided to MFA through the New Mexico Department of Finance and Administration (DFA). NSP assists communities that have been or are likely to be affected by foreclosed and abandoned properties and provides affordable housing opportunities and housing market stabilization, for the benefit of low- and moderate-income New Mexicans.

The purpose of the NSP solicitation is to select service providers for MFA’s state NSP. MFA is seeking applications from Offerors capable of providing acquisition, rehabilitation, and sale/rent services in all NSP approved areas (see solicitation for a listing of NSP approved areas). NSP funding will assist MFA in its mission to provide housing to low- and moderate-income residents. The program provides funding to service providers for acquisition, rehabilitation, and sale/rent of properties to residents at or below 120 percent of area median income (AMI) with a 25 percent set aside for residents at or below 50 percent AMI, in NSP approved areas. NSP approved geographic areas are grouped under the following titles: NSP1 and NSP, and are listed in the solicitation.

Amount: The estimated funding available for award under this 2019-2020 NSP RFP is $3,526,506.

NSP 1:

  • Acquisition/rehab/sell/rent – up to 120% AMI $1,007,494
  • Acquisition/rehab/sell/rent – up to 50% AMI (25% set aside) $ 335,831
  • Administration fee – 12% $ 183,181
  • Total $1,526,506

NSP 3:

  • Acquisition/rehab/sell/rent – up to 120% AMI $1,425,000
  • Acquisition/rehab/sell/rent – up to 50% AMI (25% set aside) $ 475,000
  • Administration fee – 5% $ 100,000
  • Total $2,000,000

Eligibility: Nonprofit organizations, for profit organizations, Community Action Agencies, or other public entities (e.g., unit of local government). Offerors must be in “good standing” with New Mexico Department of Finance and Administration (DFA ) and MFA as of the date of this RFP. In order to be in good standing, Offeror must have no unresolved findings from any prior DFA/MFA monitoring (this is not applicable for new agencies). Offerors must have been in operation for a minimum of one year. See solicitation for additional eligibility qualification requirements.

Link: http://www.housingnm.org/community_development/state-neighborhood-stabilization-program-nsp-rfp

Note: All interested Offerors must attend a mandatory RFP training in order to apply. Training is scheduled for Wednesday, October 2, 2019 from 9:00 am to 11:00 am in MFA’s board room, 344 Fourth Street SW, Albuquerque, NM 87102. The date is posted on the MFA website and is also located in Section 9, Timeline of the solicitation. Pre-registration is required. To register, visit www.housingnm.org/static/state-NSP-training.

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