About NM C-PACE

New Mexico first enacted C-PACE legislation in 2009, later followed by the Improvement Special Assessment Act enacted in 2023 via House Bill 228, which authorized counties to impose, administer and disburse special assessments to encourage the development of certain property improvements (also called C-PACE financing). This approach to financing has been used by programs like this one on thousands of properties in more than 24 states and the District of Columbia. Eligible properties are any privately-owned commercial, agricultural, industrial, or multi-family real property of five or more dwelling units located within the boundaries of the region (including properties owned by a nonprofit organization). 

County and municipal governments must pass an ordinance opting into the statewide program in order for properties within a municipality to be eligible for program financing. Only county governments are required to pass an ordinance for properties that are not within a municipality. 

C-PACE Program materials are now available for local governments, including sample county ordinance language and the program guidebook. 

New Mexico C-PACE is a program of the New Mexico Economic Development Department and is administered by Adelante Consulting, Inc. The program officially launched in April 2024.