At the Dec. 15th special Council meeting, Artesia City Council approved a budget adjustment allocating $500,000 for housing incentives. That $500,000 was matched by Eddy County during their commission meeting on Dec. 16th, as they provided $500,000 as well, bringing the total incentive pot to $1 million.
The housing incentive program is based in part on a plan from the City of Hobbs that has successfully spurred the development of new housing. Under the new Artesia plan, builders will receive a reimbursement of $10,000 per roofline after each new building receives a certificate of occupancy. The investment in this inventive will go a long way in meeting the need for new housing in our community.
The push to encourage new housing doesn't stop there, however, as Eddy County also approved $6 million in funding to the City of Artesia for other new housing development projects. The money will go towards the purchase and development of land that were part of two projects proposed to the county by the City of Artesia. We'll provide more information on these projects as the process continues.
If you have any
questions regarding recent decisions, you can reach out to Communications
Coordinator Luke Burns by email at Lburns@artesianm.gov. If you are a home
builder with questions about the incentive program, contact Infrastructure
Director Byron Landfair at Blandfair@artesianm.gov