The City of Las Cruces recently sold $6 million in affordable housing general obligation bonds that voters approved in the 2022 election.
According to Las Cruces Housing and Neighborhood Services Manager Natalie Green, many of the projects that will utilize the funding are at various stages of construction.
During a Las Cruces City Council work session on Monday, Green and Public Works Director David Sedillo presented an update on the four 2022 GO bond projects that voters approved ― $6 million for affordable housing, $9.8 million for new fire station, $4.9 million to the East Mesa Public Recreational Complex and $1.98 million for park improvements.
$6 million affordable housing bonds have been sold
Green said the affordable housing GO Bonds sold on March 14 for a "favorable rate."
The funds will be available to the city after April 11, Green said. The city can leverage the $6 million into over $142 million through other grants and programs and build about 800 rental units.
During its March 4 meeting, City Council approved two resolutions - one to sell the bonds and a second resolution that outlines an investment strategy over a three-year time period. The passed ordinance stipulates that the bonds would not be sold for an interest rate greater than 10 percent, but Green said Council would receive a more detailed update on the bonds sale at a future meeting.
The GO Bonds will be used primarily for projects that will affect renters and first-time homeowners. The City will use $4 million toward rental tax credit development and $2 million would be used for land acquisition and development for affordable single-family housing.
Green said several affordable housing projects that will utilize the GO Bonds are already under construction.
The City recently broke ground on the Three Sisters Apartments, a 70-unit affordable housing complex, situated at 130 N. Walnut and designed specifically for families with children. Green said construction is also underway on the Pedrena Apartments - an 80-unit senior rent restricted apartment complex located at 801 Farney Lane and 1955 El Paseo Road.
The Peachtree Canyon Apartments — a multifamily apartment complex that will ultimately consist of 244 rental units at 7081 North Jornada Road and Peachtree Hills Road, is currently closing on Phase I of the project.
Fire Station No. 9 project will be out to bid in April
Voters approved a $9.8 million bond in 2022 for a new fire station for central Las Cruces and Sonoma Ranch. Sedillo said the project will cost an estimated $13.2 million. The City will seek additional funding sources for the new fire station.
Sedillo said the design/development phase is complete is construction documentation is 90 percent complete. The next step will be to complete documentation and the project will be put out to bid next month.
Designs complete for upgraded parks projects
La Llorona Park along the Rio Grande and Tellbrook Park south of the interstate interchange were chosen for improvements from the Parks and Recreation Department's master plan.
Sedillo said design development for a restroom, amenities upgrade and trail repair at La Llorona Park is complete and construction documentation is 90 percent complete.
The city is in permit discussions with the International Boundary and Water Commission for a revised permit for the area with the project going to bid in August 2024.
"They (IBWC) do require that they get the 100 percent construction documents before they issue the permit," Sedillo said.
Voters approved $1.98 million for the improvements. La Llorona Park was identified as the priority and any remaining monies will be used for exercise equipment and equipment replacement at Tellbrook Park.
Phase 1 of East Mesa complex 80 percent completed
Voters approved $4.9 million in 2022 for the next phase of the East Mesa Recreational Complex. The City has $6.9 million for this phase, with the extra $2 million coming from the State.
Sedillo said the first phase of the project - construction of the 10-acre park, lighting and landscaping, is 80 percent complete. He said sod will be laid down in April and the project would be complete after three weeks.
The continuation phase of the project involves will cost approximately $2.75 million and design is 30 percent complete. The continuation phase will involve eight sand volleyball courts, two basketball courts, a concession building and restrooms.
"Initially there was discussion for two to four (volleyball courts) but through discussions with Parks and Rec, they would like to see eight courts to be able to provide enough courts based on demand," Sedillo said.
Jason Groves can be reached at 575-541-5459 or jgroves@lcsun-news.com. Follow him on X @jpgroves.
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