$14 Million Creates Wastewater-Related Infrastructure Serving Six New Mexico Reservation Villages — Wells Fargo Project Investor
The Pueblo of Laguna is a federally recognized tribe located in New Mexico, 50 miles west of Albuquerque. Residents live in six rural villages across 500,000 acres: Laguna, Mesita, Paguate, Seama, Paraje and Encinal.
Clearinghouse Community Development Financial Institution provided $14 million of Federal New Market Tax Credit Funding for Laguna to develop new wastewater-related infrastructure, including sewage, filtration and piping. Wells Fargo Bank was the project investor and Laguna Economic Advancement was the sponsor. This is the final phase of a $70 million wastewater development originally started in 2011.
The new infrastructure will greatly improve health and safety conditions throughout all six Laguna villages, which the COVID-19 pandemic has greatly impacted. This project will also create 40 construction jobs paying above the living wage and three permanent, full-time jobs paying above the living wage with full health and pension benefits.
“The Pueblo (of Laguna) has used various funding sources, such as Indian Health Services, Environmental Protection Agency, State of New Mexico, and financing through the USDA Rural Development Office and NMTC Funding as well as its own resources to install approximately $48M of water and wastewater for its six villages within a 32 square mile area to date,” said John E. Antonio Sr., Governor of the Pueblo of Laguna. “This current NMTC transaction will complete the final scope of work that identified these much-needed repairs, upgrades and improvements. This effort was necessary to ensure the Laguna people would have water and wastewater systems that meet current codes and safety requirements, provide fire flow within all villages and result in reliable and safe water systems and appropriate water systems.”
Four Corners Community Bank Celebrates a Birthday
Sheila Mathews, president and CEO, Four Corners Community Bank, thanked customers and friends while celebrating the 21st birthday of the bank this year.
She said, “As we welcome a new season, we also celebrate our birthday and 21 years as your community bank. Please share the special moment with us. It wouldn’t be the same without you.”
