New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-18C-6. Award of funds; accountability

A. Trust funds shall be awarded either on a competitive basis or based on need as determined by the authority. The authority's staff shall work with the committee to develop an application and applicant scoring mechanism or program guidelines that encourage applicants to develop solutions that are responsive to local needs and are consistent with sound housing policy.

B. The authority's governing body shall be responsible for ensuring that on an overall basis the total funds awarded for housing activities attract at least three times as much funding from other sources.