In 2022, Las Cruces voters approved the issuance of $23 million in General Obligation bonds for projects that include the establishment of an affordable housing trust fund, the building of a new fire station on the east mesa, park improvements, and continued improvements of the East Mesa Recreation Complex.
Affordable Housing – Approved
Making it Accessible. Keeping it Affordable.
Housing Investment Strategy
The City of Las Cruces Affordable Housing Investment Strategy was adopted by the City Council on March 4th, 2024. The investment strategy outlines a deliberate allocation of the $6 million and aligns with the GO Bond timeline, spanning three years while remaining adaptable to market fluctuations and broader economic conditions. While this amount represents a substantial commitment, the City aims to maximize its impact. Gap funding will complement other sources of state and federal funding. Approximately 800 housing units are planned over the next three years, providing a much-needed boost to the affordable housing stock.
2024-2027 Affordable Housing Investment Strategy
Three Sisters Apartments
The Three Sisters Apartments, a 70-unit complex (see graphic rendering image above for reference), is currently under construction. It consists of 30 one-bedroom units, 20 two-bedroom units, 19 three-bedroom units, and 1 manager’s unit. The apartment complex will be located at the intersection of Griggs and Walnut. The apartments will offer a range of amenities for residents, including a community room with a lounge, a community kitchen, and outdoor recreation spaces.
**Update: The Three Sisters apartments currently have all eight buildings framed. Buildings A, F, and G have windows installed and are preparing for stucco application. Several buildings already have drywall installed, and curb forms are being installed in front of buildings C through E.
Pedrena
The Pedrena Senior Apartments comprise an 80-unit affordable housing complex situated on the corner of El Paseo and Farney Lane. Within the complex, there are 44 one-bedroom, one-bath units and 36 two-bedroom, two-bath units. Amenities at Pedrena Senior Apartments will include a library, a community kitchen, and covered gathering spaces.
Update: The Pedrena Apartments have all duplexes and garages framed, and work is underway on framing the third floor of the main building. The majority of the electrical and plumbing on the first floor is complete, while electrical and drywall installation is beginning on the second floor. Curbs have been installed throughout the complex.
Peachtree Canyon
The Peachtree Canyon Apartments are located on the corner of Jornada Road and Peachtree Hills. The first phase of the apartments will include 72 one-bedroom, 60 two-bedroom, and 12 three-bedroom units. Among the features offered by the apartment complex are pickleball courts, a pool, age-appropriate playgrounds, and a community building. Additionally, the apartments will operate entirely on electricity.
Update: The Peachtree Canyon Apartments closed on September 30th, with a groundbreaking ceremony scheduled for October 10th. Construction of the first phase will begin shortly after the groundbreaking.
Please join us for the groundbreaking ceremony of the Peachtree Canyon Apartments, a 144-unit affordable housing development.
Date: October 10, 2024
Time: 10:00 AM
Location: Corner of Peachtree Hills and Jornada Road, Las Cruces, NM
This exciting project is made possible through a partnership between the New Mexico Housing & Community Development Corporation, Thomas Development Group, the City of Las Cruces, Housing New Mexico/MFA, and Doña Ana County.
Amador Crossing
Amador Crossing is a 50-unit permanent supportive housing (PSH) complex comprising a mix of single room occupancy and one-bedroom units. The complex will accommodate a diverse population, including chronically homeless residents and voucher holders. Located at 1101 W. Amador, Amador Crossing is within the Mesilla Valley Community of Hope Campus (MVCH). This
strategic placement within the MVCH campus ensures easy access for residents to the campus’s other five agencies, offering supportive services such as case management, food distribution, and a healthcare clinic.
Amador Crossing aims to create an inviting and comforting environment for the unhoused and at-risk community. It will provide a safe space for residents to heal, stabilize, and grow. The apartments are currently under the preliminary planning and design stage.
Update: The construction documents for Amador Crossing have been completed, and the request for bids will be published in October 2024. Construction is scheduled to begin in January 2025.
Citywide Benefits to Affordable/Attainable Housing
Citywide, there are many benefits to having affordable and attainable housing. First, it allows for people of all ages and income levels to live in the city. This is important because it ensures that everyone has access to the same opportunities and resources that the city has to offer. Additionally, having a variety of housing options helps to strengthen the economy by providing homes for people of all stages of life. This attracts new residents and businesses to the city, which in turn helps to create jobs and grow the local economy. Affordable and attainable housing is also beneficial for seniors who want to stay in their community as they age. It allows them to maintain their independence and stay connected to their friends and neighbors. Ultimately, having affordable and attainable housing throughout the city is essential for creating a thriving community for all residents.
New Fire Station – Approved
Enhance Public Safety & Shorten Response Time
The new fire station will help to ensure public safety by reducing response times for emergencies.
Fire Station 9 will reduce response times for the Sonoma Ranch and Central service area. Currently, the furthest area in a potential District 9 is 11:19 with light and sirens. All other areas in the City Fire averages 8:27. With Fire Station 9 in place, the response time for the furthest area in a potential District 9 will be reduced to 3-6 minutes. This will improve public safety for all residents in the service area.
Fire Station 9 will provide extra resources to the entire Highway 70 corridor.
Having an additional fire station on Sonoma Ranch would mean that there would be less of a need for other fire crews to respond from further away, which would reduce the amount of damage to property and injury to people in medical need. Additionally, it would mean less wear and tear on other apparatus that would be responding from further away.
The estimated bid date is Spring 2024.
Park Improvements – Approved
Park Improvements Make Our City Better
The Parks GO Bond would mean basic improvements throughout the CIty’s parks.
The following images show portions of the park that will need upgrades including a bathroom, cracked sidewalks, playground equipment and benches.
These improvements would include safety, lighting, and shade enhancements at several family favorite parks in multiple districts.
- La Llorona Park
- Restroom
- Upgrade amenities
- Trail repair
- Salopek/Stull Neighborhood Park
- Tellbrook Neighborhood Park
- Exercise equipment replacement
- La Fonda Neighborhood Park
- Hess Terrace Neighborhood Park
Finally, the money would be used to add shade structures on the playscapes and bollards for safety and lighting. These enhancements will make our City’s parks even more enjoyable places to spend time with family and friends.
Parks are an essential part of our community.
Parks promote health and wellness. They drive programming and educational activities that impact childhood development. Parks create economic opportunity by attracting visitors and businesses. They unite people and strengthen communities by providing a common space for people to come together.
The estimated bid date is Summer 2024.
East Mesa Public Recreation Complex – Approved
Providing Needed Improvements to Where We’re Growing
The GO Bond would provide continued improvements for residents on the city’s growing east side.
The East Mesa Public Recreation Complex is a much-needed addition to the City’s park system, and the GO Bonds will help fund additional improvements to the facility. The initial phase of the project, including the installation of sport lighting, is expected to be completed in February or March of next year. This will allow for evening activities at the complex, which is great news for residents on the City’s growing east side.
The East Mesa Public Recreation Complex is a sister facility to the Hadley Sports Complex, and it will provide space for tournaments and league games. Additionally, the complex will have security lighting, which will help keep residents safe during evening events.
The East Mesa Public Recreation Complex is the City’s third community-sized park. Along with Young Park and Apodaca Park, this new facility will provide space for community events and family gatherings.
Allocating Bond Funding to Art – Approved
A Portion of Approved Bond Capacity Used for Public Art
The GO Bond would provide continued improvements for residents on the city’s growing east side.
Per Ordinance No. 2988 (Las Cruces Municipal Code (LCMC), 1997, Chapter 2, Administration, Article V, Finance, Division 4, Two Percent For Public Art), two percent of each GO Bond purpose shall be provided for Public Art.
Two percent of the entire GO Bond capacity approved by voters, regardless of the amount, will be allocated to public art which is used for the same bond purpose. The table below shows the two percent applied to the $23 million GO Bond capacity.
| Department/Division* | Allocated | 2% of each Bond Purpose for Public Art |
|---|---|---|
| Total Bond Program Funding | $23,000,000 | |
| Bond Purpose | ||
| Affordable Housing | $6,000,000 | N/A |
| Fire Station | $10,000,000 | $200,000* |
| Park Improvements | $2,000,000 | $40,000* |
| East Mesa Recreation Complex Phase 2 | $5,000,000 | $100,000* |
| Total Bond Capacity | $23,000,000 | $340,000* |
* These numbers are gross figures. Two percent funding will be calculated on the total net proceeds, after payment of costs of issuance to each project, per the ordinance.
Updates:
- Fire Station #9 – Draft of the project plan based on stakeholder meetings is almost complete. Tentative date for presenting the plan to the City Art Board is February 8.
- A second public art project is possible with funding received. Fire station site TBD.
EMPRC –
- Site visit by City Art Board members is scheduled for late January, early February to determine location of public art installation.
- Project plan in progress based on stakeholder meetings.
Park Improvements –
- Information gathering phase in progress to determine park public art project site.
If/when appropriate, the City will host a Call for Artists. When available, the information can be found via this link.
2018 General Obligation Bond Projects
Go Bond Project Updates
The City of Las Cruces has established an easy, online way for the public to check the status of the General Obligation (GO) Bond projects approved by voters. The GO Bond portal provides improved transparency and customer service to Las Crucens.
Below is the GO Bond portal. For additional information or to ask a question, please reach out to [email protected].
GO Bond project schedules will be updated monthly. Due to the current market conditions with materials and labor force, schedules are subject to change.
About General Obligation Bonds
General Obligation (GO) Bonds are an important source of funding for basic capital improvements (bricks and mortar) that our growing community requires to thrive.
General Obligation Bonds are typically best suited for projects that benefit the general public but generate little or no revenue to pay debt service.
The City typically uses GO Bonds for initiatives including:
- Parks and recreation facilities and improvements
- Public facilities such as fire stations, police stations, libraries, senior centers
- Infrastructure improvements such as roads, sidewalks, trails, and drainage facilities
- Other projects with strong local support
Frequently Asked Questions
A General Obligation Bond is a form of debt financing secured by property tax revenues. General obligation bonds can be issued for general purpose projects. State Statute 3-30-5 outlines the authority to issue general obligation bonds and purpose.
City of Las Cruces current general obligation bond outstanding debt is $22,510,000.
State Constitution Article 9 Section 3 limits the amount of general obligation bonds issued by municipalities to 4% of total assessed valuation. The City of Las Cruces’ current general obligation bonding capacity is $82,681,309.
The City uses property tax revenues to pay for general obligation bonds. General obligation bond debt service is paid semi-annually (February and August). City’s outstanding general obligation bonds are on a twelve-year repayment schedule.
Debt service refers to the cash required to pay back interest and principal on debt obligations. The amount of debt service is one factor used to calculate the mill rate.
Bond cycling allows the city to issue new debt without increasing the debt service. The debt service stays leveled when debt is cycled. If general obligation bonds are structured to be cycled every four years, the debt service will decrease the fourth year but will level out with the new debt.
There will be a minimal decrease in property taxes if the bonds are not approved by voters. The tax rate will go down until the current general obligation bonds are paid off.
The GO bond questions on the ballot will not raise the City’s debt service level which is one factor in calculating property taxes. If the property’s assessed value increases, property taxes may go up.
Several factors determine how much you pay in property taxes. These include assessed value and location of the property. An increase in the assessed taxable value of the property will increase the property taxes. If governmental and/or educational entities increase their mill rate, property taxes will increase.
Taxable value on real and personal property is one-third of the total assessed value, minus any allowable exemptions. Net taxable value times the mill rate is total taxes owed.
For example:
| Full Value of Property | Total Assessed Value | $150,000 |
| Taxable Value | Total Assessed Value ÷ 3 | $50,000 |
| Subtract Exemptions | $0 | |
| Net Taxable Value | $50,000 | |
| Calculate Total Taxes Owed | Net Taxable Value * Mill Rate $50,000 * 0.031258 |
$1562.90 |
Note: The New Mexico Department of Finance and Administration may apply the yield control formula to limit the percentage by which total revenue generated by a property tax imposition may grow from year to year.
The assessed value is the dollar value assigned to a home or other piece of real estate for property tax purposes. The county assessor is responsible for valuing all real and personal property for taxing authorities in the county.
The mill rate is the amount of tax payable per dollar of the assessed value of a property. 1 mill is equal to $1 in property tax levied per $1,000 of the property’s assessed value. Different mill rates are charged by different agencies, including the city, the county, school boards, and the state. These are all combined to help calculate your final property tax bill. The current mill rate is 2.03. The mill rate will not increase with the GO bonds in the current ballot.
The New Mexico Department of Finance and Administration will determine the rate that each taxing entity will receive, also called Mill Rate. The portion of the taxes received by tax entities such as school districts and municipalities are based on their budgetary needs. Yield control rates place an additional limitation on property tax rates. Yield control rates limit the tax rate when property values are increased due to reassessment.
The mill rate established is applied to both existing and new property.
Send in your thoughts to [email protected].
Many communities issue and repay GO Bonds on a regular cycle – e.g. every 2 to 6 years. The City will evaluate the need for GO Bond elections in the future.
Contact Us – Community Engagement Office
Email the Community Engagement Office: [email protected]
Physical Address: 700 N. Main Street, Las Cruces, NM 88001
Phone: (575) 541-2100