Public Project Revolving Fund (PPRF) (New Mexico)

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Last modified on February 12, 2015.

EZFeed Policy

Place New Mexico


   
Applies to States or Provinces New Mexico
Name Public Project Revolving Fund (PPRF) (New Mexico)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province








Start Date 1994


Funding Source Government Gross Receipts Tax









Program Budget $26 million per year





Program Administrator New Mexico Finance Authority
Primary Website http://www.nmfa.net/financing/public-project-revolving-fund/about-the-pprf-program/



Last Review 2014-09-15


Information Source http://energy.gov/savings/public-project-revolving-fund-pprf-new-mexico


Summary

The New Mexico Finance Authority’s Public Project Revolving Fund (PPRF) funds infrastructure and capital equipment projects with low-cost and low-interest rate loans.  The key characteristics of the PPRF is that all participating borrowers, regardless of their credit worthiness, receive ‘AAA’ insured interest rates; among the lowest interest rates available in the market. 

The PPRF is used to assist a wide range of governmental entities in accessing the capital markets at an all-in cost that is highly competitive and usually more competitive than other financing alternatives available to public entities. NMFA is an AAA / Aa1 credit (Agency Reports) whose bonds are highly sought by investors allowing NMFA to issue bonds in the capital markets at very attractive rates. NMFA passes the pricing benefits it receives in the public capital markets on to New Mexico communities in the form of loans. NMFA charges a flat fee of 1.5%, capped at $75,000, on loans that it makes from the PPRF.



Policy Contact

Contact Name Zach Dillenbach
Department New Mexico Finance Authority
Division Bernalillo, Sandoval, Torrance, Valencia Counties




Phone 505-992-9616


Email zdillenback@nmfa.net
Website http://www.nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145
Contact Name Darlaina Chapman
Department New Mexico Finance Authority
Division Cibola, Colfax, Los Alamos, McKinley, Mora, Rio Arriba, San Juan, San Miquel, Santa Fe, Taos Counties




Phone 505-992-9622


Email dchapman@nmfa.net
Website http://www.nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145
Contact Name Adam Johnson
Department New Mexico Finance Authority
Division Catron, Dona Ana, Grant, Hidalgo, Luna, Sierra, Socorro Counties




Phone 505-992-9641


Email ajohnson@nmfa.net
Website http://www.nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145
Contact Name E.J. Peinado
Department New Mexico Finance Authority
Division Curry, De Baca, Guadalupe, Harding, Quay, Roosevelt, Union Counties




Phone 505-992-9621


Email 505 - 992 - 9621
Website http://www.nmfa.net/NMFAInternet/NMFA_Web.aspx?ContentID=145

Authorities (Please contact the if there are any file problems.)

Authority 1: NMFA Legislative Act Article 21:
Date Effective 2005-06-17



















References