Section 3-60C-2 - Purpose.
3-60C-2. Purpose.
The purpose of the Main Street Revolving Loan Act [3-60C-1 NMSA 1978] is to provide owners of eligible properties with low-cost financial assistance, through the creation of a self-sustaining revolving loan program, in the restoration, rehabilitation and repair of those properties if they meet certain eligibility criteria and would contribute substantially to the state's economic well-being and to a sound and proper balance between preservation and development.