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    Home»Bonds»Las Cruces moves on $23 million GO Bonds for housing, parks
    Bonds

    Las Cruces moves on $23 million GO Bonds for housing, parks

    October 30, 2024


    Justin Garcia Las Cruces Bulletin

    General obligation bond projects are well underway, and several projects have expected spring or summer completion dates, according to a presentation to the Las Cruces City Council. 

    David Sedillo, the city’s public works director, updated the council on the progress of four projects during a meeting on Oct. 15. In November 2022, Las Cruces voters approved some $23 million in bonds for these projects.

    New Mexico municipalities use bonds to fund brick-and-mortar capital improvement projects like parks, libraries and other city services. The city uses property tax revenue to pay the bonds back. 

    Affordable housing 

    The most untraditional of the lot, a $6 million bond for affordable housing, was approved by voters with 20,156 voters in the affirmative (65 percent) and 10,872 against (35 percent.)

    Officials said this bond would help stimulate affordable housing development. The city estimates that Las Cruces is about 5,600 units short of meeting the housing demand. Academic research shows that higher rent and housing prices negatively affect crime and the local economy. 

    Still, city officials and the council sat on the bond for about a year before cashing it in. The affordable housing bond was taxable, since the money does not go to brick-and-mortar projects like other bonds. At the time of approval, officials said they feared taxes and interest rates would gobble up too much of the bond. 

    However, they ultimately sold the bond, despite the rates, in April 2024. 

    Natalie Green, the city’s housing and neighborhood services administrator, said about half of the bond has been allocated so far. She also gave progress reports on the city’s biggest housing efforts, including the Three Sisters Apartment complex, Pedrena and Peachtree Canyon. 

    Greens said Three Sisters, located near Meerscheidt Center on North Walnut Street, is expected to open in June 2025 fully, but portions will be open beforehand. Pedrena, located on El Paseo Road near Las Cruces High School, is scheduled to open in May 2025 and is reserved for seniors. Green also noted that officials held a groundbreaking ceremony for Peachtree Canyon in October. 

    Fire Station 9

    Officials have promised that a new fire station located on the city’s far east side in the growing Metro Verde area will improve response times for other east Las Cruces neighborhoods and serve as key public safety infrastructure for the newest part of Las Cruces.

    Voters approved the $10 million bond, with 22,974 voters in favor (74 percent) and 7,900 against (26 percent). That translated into $9.8 million for the city, Sedillo said. The city also sent $2 million to the project from the Telshor Fund. 

    Sedillo said the project is on schedule. Construction is slated to begin on Oct. 28 and is expected to be completed in February 2026.

    Park improvements

    Voters also sent $2 million to the parks after the city pitched the bond to improve existing facilities. The bond was approved by 23,074 in favor (74 percent) and 8,077 against (26 percent).

    Sedillo said the city received about $1.9 million and prioritized revitalizing La Llorona Park, which abuts the Rio Grande at the West Picacho bridge. 

    As part of this project, the city will upgrade and repair restroom facilities, the area trails, and other amenities. Sedillo said the next steps are finalizing the park’s changes with an international organization that oversees development along the Rio Grande. 

    Sedillo said construction is expected to start in November, with a completion date in September 2025. 

    Any leftover money will replace equipment at Tellbrook Park on the city’s south side. Sedillo said he expects money to be available for this based on the estimated cost of the first project. 

    East Mesa Recreational Complex

    In one of the largest local public works efforts in recent memory, voters in 2022 sent $5 million to fund the East Mesa Recreational Complex and approved a $16.9 million bond, much of which went to the same project. 

    The city held a grand opening for the complex’s pickleball courts in September and said much of the project’s first phase is complete. Sedillo said the city is still working on acquiring shade structures and designing playground equipment. 

    Sedillo said eight sand volleyball courts, two basketball courts, an umpire and IT building, restrooms, street furniture and more playground equipment were also set to go out to bid in November. 





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