Rural Infrastructure Program (RIP)
The Rural Infrastructure Act (Chapter 75, Article 1 NMSA 1978) created the Rural Infrastructure Revolving Loan Program (RIP) in 1988. The purpose of the RIP is to provide financial assistance to eligible local authorities for the construction or modification of water supply, wastewater, and solid waste facilities.
Click the following link to view the New Mexico Administrative Code regulations that govern RIP:
Type of Funds
Because the funds are state monies, the application and approval process is streamlined, allowing the funds to be available within six to eight weeks. The maximum loan per entity is $2,000,000 per year. Grant funding may be available on a limited basis.
The base interest rate is 2.375%, with a repayment schedule of up to 20 years. The first payment is not due until one year after the completion of the project.
Who and What Projects Are Eligible
Any incorporated City, Town, Village, Mutual Domestic Water Consumers Association (MDWCA) or Water and Sanitation Districts with a population of less than twenty thousand or a county that serves a population of less than two hundred thousand.
These types of projects can be financed through RIP:
- Eligible water, wastewater and solid waste
- Water pipelines
- New sewer interceptors and collectors
- Infiltration/inflow correction
- Water and sewer system rehabilitation
- Treatment plant improvements
- Non-point source projects (i.e. septic tanks)
- Cost of water rights acquisition
- Eligible solid waste facilities including collection, disposal, storage and recycling
- Engineering studies and design
- Project inspection
- Easement and right-of-way
- Project legal costs
- Purchase of equipment
- Pollution Control
RIP Annual Report
Click the following link to go to the Rural Infrastructure Loan Program (RIP) Documents and Forms page to view or download the latest
Applications are accepted throughout the year. Loan funds can be made available for projects within six to eight weeks upon submission of complete application.
Rural Infrastructure Program (RIP) Documents and Forms:
If you have any questions regarding RIP, contact the CPB Team: NMENVemail@example.com or (505) 827-2806.