ROSWELL, N.M. (KRQE) – The City of Roswell’s legal committee met on Thursday to discuss a Municipal Infrastructure Reimbursement Program that would reimburse home developers for building streets, sidewalks, drainage and sewer lines on their properties.
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“The city is bringing some of their funding to bear in order to offset the cost of what it will take to get a family into that home,” said Joe Neeb, the city manager.
The reimbursement would take place after a project is completed and cover the cost of infrastructure completed by homebuilders. The program gained momentum because of the cost of materials skyrocketing during COIVD-19. Right now, the city needs twice the number of houses to meet the job growth in the area.
“At a time, we only had a small number of residences available to support people,” said Mike Espiritu, president of the Roswell-Chaves County Economic Development Corporation. “As you know companies have to look out for workers to a new city, like Roswell, will always look for the things that benefit their employees.”
The city says this could help lower the cost when trying to purchase a home. The city is looking at an 800-home development in the northern part of town along Country Club, including offering developers more incentive to build in the southern part of the city to help revitalize it.
The city is hopeful this will attract homebuilding companies because the city of Hobbs did a similar program in 2012 and saw an immediate benefit. “Hobbs did a very nice thing with this market-rate program and again it’s not just for single-family homes, it’s for multi-family homes,” Neeb said.
The city council will hear the proposal on October 14, where they will vote on whether to implement it. If approved, it should go into effect immediately.