City of Albuquerque hopes to increase GO Bond funds for housing issues
Nov 15, 2024
ALBUQUERQUE, N.M. (KRQE) – The City of Albuquerque is pouring millions of dollars into tackling the growing housing problems. During a city meeting, the city announced it would be doubling the amount of capital funds given to affordable housing and homeless programs.
At the Environmental Planning Commission meeting on Thursday, the city shared they are hoping to grant $20 million toward the housing issue. The Director of the City's Health, Housing and Homelessness Department (HHH) said this will give them the boost they need.
"These are all positive changes for addressing the issues that we'll have in the future as well as currently," said HHH Department Director Gilbert Ramirez.
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During an Environmental Planning Commission meeting, the city presented its 2025 General Obligation (GO) Bond Program. It showed an extra $10 million would go to support HHH, bringing the total to $20 million.
"The need was seen by the administration to increase funding both for affordable housing up to the maximum that we are allowed to give by ordinance to the workforce housing trust fund as well as increase funding for homeless facilities," said CABQ CIP Official Sean Madden.
HHH explained half of the money would go towards capital, and the remaining would go towards facility improvements.
"This allows us to have a path forward to leverage those fundings to make sure that the facilities are maintained and also upgraded," stated Ramirez.
Public Safety will have a reduction of $10 million in funds from GO Bonds. Albuquerque Fire and Rescue and the Police Department were at the meeting and explained that the reduction in funding would not have any negative impacts to their operations.
"The funding being allocated there kind of more upstream helps first responders more downstream if we can get more people into that affordable housing," said AFR Fire Chief Emily Jaramillo.
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"ACS is a great partner of us, so we understand where the administration is also allocating funds for them because we work . . . together, so I think it's a great proposal that the city has proposed," APD Chief of Staff Michael Hernandez.
HHH said that funding these services is a preventative measure to bring long-term results.
"In the kind of preventative as well as the intervention area, you're going to get your money back in the long term when individuals have access to services," stated HHH Director Gilbert Ramirez.
KRQE reached out to the city, and they said these funding amounts were determined based on constituent feedback, adding that it will also help fund public art as well as roads and public buildings. The GO Bond Program will go back to the mayor for review of the EPC's findings. After that, it will go before the city council for approval in January before landing in front of voters next year.