The city of Hobbs has approved two new projects to add much needed affordable housing in the area.
The Hobbs News-Sun reports that the Tierra Realty Trust's and JL Gray Company's affordable housing projects were approved this week at a Hobbs commission special meeting.
The developers are now two of five developers Hobbs officials are supporting in their mission to compete for one of four-five tax credits given annually by the New Mexico Mortgage Finance Authority.
Developers now must go before the NMMFA and win one of the tax credits.
Housing projects come as Hobbs struggles to find affordable housing for residents amid an oil boom in the region.
Information from: Hobbs News-Sun
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