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The American Association of University Women -LC (AAUW-LC) supports an affordable housing obligation from the General Obligation (GO) Bond. As a national network, AAUW has been empowering women since 1881. AAUW-LC, established in 1923, has long supported women in our county through scholarships, research and advocacy.
Affordable housing is critical to women and their families. Our city, like the rest of the nation, is experiencing a housing crisis. Currently, there is a shortage of 5,600 affordable rental units in Las Cruces. Low- and moderate-income women, many whom are single-heads of their households, struggle to meet this basic need for their families.
In the US, single parenthood often means socio-economic risks, like lower educational attainment, higher unemployment, and lower wage jobs. Our city can change these risks by ensuring families have stable affordable homes.
Historically, non-profit and for-profit developers in our city leverage the city’s investment, raising additional funds from various resources. For example, the city is investing $2.4 million in the Three Sisters Apartment project on Walnut Street with projected costs of $17 million. In combination with housing tax credits and other resources, the developer is attracting
$6 for every $1 the city is investing in the project.
Using this model, the $6 million GO Bond investment could bring approximately $42.5 million in affordable housing to Las Cruces. These funds will build over 170 new affordable housing units, assuming similar per unit housing costs as the Three Sisters project.
Using GO Bond funds for an affordable housing investment is a justified, reasonable use of these funds.