New Mexico oil boom town approves housing incentives | KOB 4
Advertisement

New Mexico oil boom town approves housing incentives

New Mexico oil boom town approves housing incentives

The Associated Press
July 01, 2018 11:22 AM

HOBBS, N.M. (AP) - A New Mexico city in the heart of the state's booming oil and gas country has approved tens of thousands of dollars of incentives to help subsidize the development of more single-family homes.

Advertisement

The Hobbs News-Sun reports the city commission recently approved a total of $305,000 in incentives as part of development agreements with homebuilders to address the community's housing crunch.

One of the development agreements was inked with Habitat for Humanity of Hobbs for the construction of 20 low-income, single-family homes.

Habitat for Humanity will receive up to $105,000 for infrastructure incentive reimbursements.

The incentives are for public municipal infrastructure such as water and sewer lines, streets and sidewalks.

City officials say similar development agreements since 2012 have resulted in nearly 1,000 multi-family units and about 340 single-family homes.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Credits

The Associated Press

Copyright 2018 The Associated Press. All rights reserved.

Advertisement
Comment on Facebook

Share 4 - News Tips - Photos - Videos
  Share a News Tip, Story Idea, Photo, Video



Advertisement

Relay Media Amp

Advertisement

Advertisement







2 killed after car crashes into Albuquerque apartment

APD: Driver admitted to being on drugs at time of hit-and-run

Double homicide investigated in Meadow Lake

Man dies in drive-by shooting in Espanola

Eye on New Mexico: Discussing Alzheimer's Disease