Business digest — March 13

Finance authority accepting applications The New Mexico Finance Authority (NMFA) is accepting applications through March 30 for awarding low-interest loans for businesses in qualified low-income areas throughout New Mexico. New Markets Tax Credits can provide low cost gap financing to fund projects and business expansions that are more than $5 million. Benefits include lower cost […]

Nixing state income tax boosts opportunity

If the classic 1940 movie “Grapes of Wrath” were remade for 2012, the Joad family would be trekking, instead, from California to Oklahoma. Based on the 1939 novel by Californian John Steinbeck, the movie showed the Joads suffering through the 1930s Great Depression and Dust Bowl in Oklahoma, then striking out for the Golden State […]

Tax aid offered to low income, senior citizens

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CNJ staff photo: Tony Bullocks Silvia Macias, left, of Clovis has her taxes prepared Thursday by volunteer Ann Sweat of AARP tax aide at Roy Walker Recreation Center. This was Macias’ first time using the free service and Sweat has been a volunteer tax preparer for four years. Tonjia Rolan Low income and senior citizens […]

Income gap not wide between rich, poor

A Congressional Budget Office study has claimed that between 1979 and 2007 after-tax income for richest households grew substantially more than it did for others. Let’s look at what is not happening. The poor are not getting poorer because the rich are getting richer. Gary Burtless of the Brookings Institution says living standards have improved […]

Resident remembers Hotel Clovis history

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CNJ staff photo: Sharna Johnson Anna Wyatt looks at the spot where her styling chair was once anchored to the floor in the Hotel Clovis. Wyatt said in the 1960′s when she worked at the hotel, she was only the third female barber to be licensed in the state. Sharna Johnson A lot has changed […]

Opponents say affordable housing plan unnecessary

Sharna Johnson Voter defeat of an Affordable Housing Ordinance city officials say was designed to create incentives for private industry to develop housing for low-income residents doesn’t mean housing won’t be built, according to opponents of the measure. Semi-retired banker Darrel Nance said if government gets out of the way and the demand exists, private […]

Expert: Hotel Clovis project taxpayer funded

Sharna Johnson While the extension of low-income housing tax credits to developers puts implementation and management in the hands of private industry, the projects born of them — including the Hotel Clovis project — ultimately involve taxpayer funds. “The government is financing (the project) essentially but it’s technically true that the government’s not going to […]

Press release: $46 million for low income communities

WASHINGTON – U.S. Senator Tom Udall (D-NM) today announced that Finance New Mexico will receive $46 million to support job creation and investments from the private-sector in economically distressed communities across the state. The $46 million comes through the New Markets Tax Credit (NMTC) program under the U.S. Department of the Treasury’s Community Development Financial […]

Officials: Income tax rebate hearing formality

Kevin Wilson A public hearing on establishing a low-income tax rebate scheduled for a Tuesday Curry County Commission meeting is nothing more than a formality, according to county officials. Treasurer Bernice Baker said the only thing the rebate would change is the county would be required to reimburse the state for rebates already available to […]

Good stewardship acting for others, not self

Judy Brandon I wrote about Auntie Mille several years ago. A reader request has prompted me to tell about her once again. I found out about her from one of my students who her great niece. Auntie Mille was a single mother who worked to stretch her meager income. It was the late fifties in […]