N.M. Stat. § 6-27-5
State, county, municipalities, instrumentalities of the state
and the authority; authorization for affordable housing.
The state, including any agency or instrumentality of the state, or a county, a
municipality or the authority may:
A. donate, provide or pay all, or a portion, of the costs of land for the construction on
the land of affordable housing;
B. donate, provide or pay all or a portion of the costs of conversion or renovation of
existing buildings into affordable housing;
C. provide or pay the costs of financing or infrastructure necessary to support
affordable housing projects; or
D. provide or pay all or a portion of the costs of acquisition, development,
construction, financing, operating or owning affordable housing.