Bernalillo County

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Commission Approves Project Revenue Bonds for Two West Side Apartment Complexes

01/27/2021
7:42 AM

Bernalillo County – Bernalillo County commissioners have approved project revenue bonds for two multi-family apartment complexes on Coors Boulevard which will bring more than 200 new apartments to low and moderate income residents.

 

 

The project revenue bonds were approved as follows:

 

La Serena Apartments

  • Fronting Coors Boulevard between Los Volcanes and Bluewater
  • $11 million
  • 78, age 55+ apartments

 

San Roque Apartments

  • Fronting Coors Blvd between Los Volcanes and Bluewater
  • $27.9 million
  • 136 apartments

 

“This is a great opportunity to bring some quality affordable housing the west side,” says District 1 County Commissioner Debbie O’Malley. “Serving the living needs of multiple generations in their own housing areas makes this a unique effort.”

 

Project revenue bonds or multi-family housing revenue bonds, are used to provide tax-exempt and/or taxable financing for the construction or rehabilitation of multi-family housing projects for low to moderate-income individuals. Although the county is the issuer, multifamily housing revenue bonds do not constitute a debt of the county.

 

Both projects were approved on a 5 – 0 vote.

 

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About Bernalillo County

Bernalillo County is 1,160 square miles and is New Mexico’s most populous county with more than 676,000 residents. Bernalillo County government provides a wide range of public services to residents who live in Albuquerque, Los Ranchos and Tijeras and the 111,000 residents who live outside the village and city limits in the unincorporated areas of the county. Bernalillo County employs approximately 2,500 people and has an annual operating budget and capital investments of more than $650 million. Elected officials include five county commissioners, assessor, clerk, probate judge, sheriff, and treasurer.

 

 

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