New Mexico oil boom town approves housing incentives
HOBBS, N.M. (AP) — A New Mexico city in the heart of the state's booming oil and gas country has approved tens of thousands of dollars of incentives to help subsidize the development of more single-family homes.
The Hobbs News-Sun reports the city commission recently approved a total of $305,000 in incentives as part of development agreements with homebuilders to address the community's housing crunch.
One of the development agreements was inked with Habitat for Humanity of Hobbs for the construction of 20 low-income, single-family homes.
Habitat for Humanity will receive up to $105,000 for infrastructure incentive reimbursements.