A state agency has awarded $70 million in zero-interest loans to local governments in and around Ruidoso, cutting checks that the New Mexico Legislature authorized during a special legislative session in July.

A New Mexico state agency has awarded $70 million in zero-interest loans to local governments in and near Ruidoso, cutting checks the legislature authorized during a special session in July.

The New Mexico state government detailed where $70 million in zero-interest loans are going to support recovery efforts in Ruidoso.

The state has awarded millions of dollars in loans to Ruidoso and Lincoln County as they recover from this summer’s wildfires. The South Fork and Salt Fires burned thousands of acres and destroyed 1,400 structures in the mountain community back in June.