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We closed our first multifamily transaction! Find more info under our case studies tab.
Step 1: Ensure that your project meets the eligibility requirements. These can be found on our Eligibility Requirements page and in our Program Guidebook. Please familiarize yourself with the guidebook to better understand all elements of the New Mexico C-PACE program.
Step 2: Ensure that your project is in a county (and municipality, if applicable) that has opted in to the New Mexico C-PACE program. Refer to our About NM C-PACE page for updates on which counties and municipalities have opted in and are utilizing Adelante Consulting, Inc. as their third-party Program Administrator. If your county or municipality of interest has not yet opted in, please let us know and we would be happy to initiate a conversation with them.
Step 3: The Property Owner and the Capital Provider prepare the Project Application, consisting of the Project Application Form and all supporting documents (find the Project Application Form and all other program documentation by clicking below).
Step 4: Once all documentation has been completed, the Property Owner or the Capital Provider will send the application documents to the program administrator by email (info@nmcpace.com). Please include the following in the subject of your email: Project Application - [insert the name of the applicant].
Step 5: The program administrator will have 10 business days to review and approve the Project Application (a maximum of 20 business days if the review process is delayed).
Incomplete Project Applications will be returned to the applicant with a notification about which items were not provided or were insufficient.
If the Project Application and supporting documents comply with the Project Application Checklist, the Project Application will be approved, and the approval communicated in writing to the applicant.
Note: Refer to the Program Guidebook for further guidance on conditional approvals when the consent of all lienholders on the property is not yet available.
Step 6: At closing, the County will record the Assessment Agreement, the Notice of Special Assessment Interest and Special Assessment Lien, and the Assignment of the Notice of Special Assessment Interest and Special Assessment Lien.
Upon confirmation of recordation, the Capital Provider will disburse funds in accordance with the Special Assessment Financing Agreement.
Note: Refer to the Program Guidebook for the additional responsibilities of the Property Owner and Capital Provider after the confirmation of recordation.
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