HUD Announces Federal Stimulus Money for NM

Staff Report

The Associated Press

ALBUQUERQUE, N.M. (AP) - New Mexico will receive nearly 50 million dollars in federal stimulus money from the U.S. Department of Housing and Urban Development.

HUD said today it has allocated 75 percent of its funding under the American Recovery and Reinvestment Act.

New Mexico's share will be used to build affordable housing, improve public buildings and renovate public housing, including making it more energy-efficient.

The money will go to the state, local communities and Indian tribes. It's part of 10.1 billion dollars handed out nationwide from HUD.

The funds are primarily allocated using set criteria.

The agency says the remaining 25 percent of HUD funds will be competitively awarded and will be used to promote green jobs and help homeowners facing foreclosures.