- Municipal Bonds
- Clean Water State Revolving Fund
- Water Renewal & Replacement Fund
- Metropolitan Redevelopment Agency (MRA)
- Farmington Electrical Utility Department
- Community Transformation & Economic Development (CTED)
In 2016 Downtown Farmington: A MainStreet Project along with the City of Farmington Planning Department applied for a New Mexico MainStreet Great Blocks on MainStreet grant and also presented to New Mexico FUNDIT seeking funds to help pay for the project. Unfortunately these attempts were unsuccessful, which convinced the MRA Commission to commit funds to begin the design process for the first two blocks of the project. At this time it was still unclear how the City would pay for construction but at least forward momentum was in progress.
Then in late 2017 former Mayor Tommy Robert and City Manager Rob Mayes came up with a bold plan to refund and refinance two municipal bonds, which would enable the City to provide the funds for not just the first two blocks, but the entire six block corridor along Main Street, as well as, several other large quality of life projects around the City. The City Council agreed that this was a great plan and so the City now finds itself in a unique position of being able to fully fund this amazing Creative Placemaking project.
Additionally, in August 2018, the City Council voted unanimously to raise gross receipts tax by 5/8 of 1 percent. Of that 5/8% increase, 1/4% was dedicated to Community Transformation and Economic Development (CTED). The goal of establishing CTED was to have funds dedicated to diversifying the local economy, particularly in the outdoor recreation industry. CTED funds are being used for projects such as the Outdoor Recreation Industry Initiative, recreational amenities, incentives for job creation, development, and operations that spur community transformation and economic diversification.
Understanding the importance of improving the storm drain system in the downtown area as part of our Downtown Farmington Revitalization efforts, the City of Farmington in April of 2019, applied for funding under the U.S. Environmental Protection Agency’s (EPA) Clean Water State Revolving Fund (CWSRF) loan program. By June 2019 the New Mexico Environmental Department (NMED), the state’s branch of the EPA, determined that our project was eligible for funding and provided an offer which the City accepted. Immediately the City and NMED entered into a loan agreement for the installation of the Storm Water Improvements and Low-Impact Development.