R-26-68: Appropriating Funding Provided By The State Of New Mexico Department Of Workforce Solutions To The Gizmo Arts Recovery Housing Project In City Council District 2 (Baca, by request)

Description

Appropriating Funding Provided By The State Of New Mexico Department Of Workforce Solutions To The Gizmo Arts Recovery Housing Project In City Council District 2 (Baca, by request)

Summary

Resolution R-26-68 appropriates $650,000 in state funding received through a City–New Mexico Department of Workforce Solutions agreement for the GIZMO Arts Recovery Housing Project in Council District 2. The money will help renovate the downtown GIZMO building into five affordable residential units for households earning no more than 80% of area median income, with affordability maintained for 20 years. Golden Forward is the qualified grantee, and the City’s Department of Health, Housing and Homelessness must ensure compliance with state and local requirements. The funding addresses a documented construction gap and requires progress reporting, expenditure documentation, inspections, and performance tracking. If not approved, the project would lose the state allocation and retain a significant financing shortfall.