With the announcement of an award of $10.4 million in affordable housing tax credits, the funding for the housing at Siler Yard is nearly complete with $18.5 million in total funding committed. We are seeking to raise the last $200,000 to become New Mexico’s s first net-zero energy multi-family affordable housing project.
Siler Yard will feature a 238kW rooftop solar array consisting of 543 solar panels. Because of the Siler Yards efficient building envelope and advanced all-electric HVAC equipment, this array will generate enough power to offset consumption from the project. Over the 25 year service life of the array, this should:
-reduce carbon emissions by 11,880,000 lbs.
-keep 4,950,000 lbs. of coal in the ground
-save 4,750,000 gallons of water from steam turbine
-equivalent of planting 1473 acres or removing 1036 cars from roads
-eliminate utility bills for future residents
Donations to Siler Yard are eligible for NM State Affordable Housing Tax Credits, which provide $.50/dollar ta credit for charitable contributions that can be applied to state tax liability, including GRT. More info below.
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For more information on sponsorship, contact Josie Butler at jbutler-at-nmifhousing.org
NEW MEXICO STATE AFFORDABLE HOUSING TAX CREDIT
Charitable contributions to affordable housing projects are eligible to receive a state tax credit through New Mexico’s Affordable Housing Tax Credit program, the aim of which is to encourage private investment in affordable housing.
The program is available to any eligible individual, business, and local or tribal government that donates to a qualified affordable housing development. State tax credits provide a direct savings on income taxes, gross receipts taxes (GRT) and compensating taxes (excluding local option GRT imposed by a municipality or county or the government GRT).
-donated back to the project to extend your gift