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| C.A.R. Housing Affordability Fund Raises More Than $1 Million in 2004 to Increase Homeownership Opportunities for California Families |
More than $360,000 disbursed to 13 projects in 2004
LOS ANGELES, Dec. 20 /PRNewswire/ -- The California Association of
REALTORS(R) (C.A.R.) today announced that its Housing Affordability Fund
(C.A.R.H.A.F.) raised $1,012,830 in 2004, bringing total donations to the fund
to more than $2,300,000 since its inception in January 2003. Corporate
donations this year include: Fannie Mae Foundation, $25,000; Cendant Real
Estate Franchise Group, $15,000; R.E. Infolink, $15,000; SANDICOR -- San Diego
Count Regional MLS, $10,000; and First American Corp., $5,000. In addition,
California REALTORS(R) donated nearly $300,000, local REALTOR(R) associations
from throughout the state donated more than $125,000 and C.A.R. donated
$500,000 in matching funds to C.A.R.H.A.F.
"California's REALTORS(R) and our corporate citizens understand the need
to increase housing opportunities for families in the Golden State," said
C.A.R. President Jim Hamilton. "California's long-standing affordability
crisis poses a challenge to all, and REALTORS(R) and others in the industry
are meeting that challenge through their generous donations to the C.A.R.
Housing Affordability Fund."
The fund's resources are distributed through local REALTOR(R) associations
that submit requests for programs that directly address housing affordability
and housing supply issues within their communities. Since delivering its
first grant to the Monterey County Housing Alliance Housing Opportunity Center
in 2003, the fund has disbursed $461,060 to 20 projects, ranging from Habitat
for Humanity to employer-assisted housing programs. A complete description of
programs funded by C.A.R.H.A.F. is available online at
http://www.car.org/index.php?id=MzM0NDY. Highlights of programs funded this
year include:
* Bay East Association of REALTORS(R) -- Habitat for Humanity East Bay
-- A partnership between the Bay East Association of REALTORS(R) and
East Bay Habitat for Humanity was created to promote and support a
22-unit housing development in Livermore that will provide affordable
housing and the opportunity for homeownership to low-income workforce
families.
* Beverly Hills/Greater Los Angeles Association of REALTORS(R) --
Through its advocacy efforts, this unique mixed income, affordable
housing model was designed to assist individuals who may require some
assistance with daily activities, but are not in need of assisted
living or skilled nursing. This independent, low-income elder housing
will allocate 30 percent of the building's units to older adults who
are either living with HIV/AIDS, homeless or at risk of being
homeless.
* Santa Barbara Association of REALTORS(R) -- Habitat for Humanity, with
the support and efforts of their local REALTOR(R) Association,
Southern Santa Barbara County, will soon be the recipient of three new
Habitat for Humanity Homes.
* Tehama County and Shasta County Association of REALTORS(R) -- Habitat
for Humanity -- Funding of infrastructure for the construction of
20 affordable houses for low-income workforce families serves as
Phase 1 of what will ultimately be a 64-home subdivision on 15 acres
of donated land in Red Bluff, California.
* Calaveras County Association of REALTORS(R) -- Workforce Employer
Assisted Housing was a model created to help first-time homebuyers
with long-term employment in the community with downpayment/closing
cost assistance.
* Beverly Hills/Greater Los Angeles Association of REALTORS(R) --
Habitat for Humanity -- C.A.R.H.A.F. provided $5,000 of funding to
support their $95,000 REALTOR(R)-supported fundraising effort to build
four infill Habitat homes in South Los Angeles.
* Santa Clara Association of REALTORS(R) -- Two employer-assisted
housing programs provided first-time homebuyers in the community and
within the Association with the opportunity to receive
downpayment/closing cost assistance for those individuals who don't
qualify for low-moderate income program assistance.
* Humboldt Association of REALTORS(R) -- Land Trust Housing Development
-- An innovative collaboration between public and private agencies,
this development model will maintain generations of affordable housing
stock. C.A.R.H.A.F. funds were utilized in the development of the
legal documents that will be used as part of the sales transactions.
* Chico Association of REALTORS(R) -- Habitat for Humanity --
REALTORS(R) seeking to find immediate solutions to their local
affordable housing needs tapped Habitat of Butte County for the
delivery of two homes.
* San Diego Association of REALTORS(R) -- An Affordable Housing Design
Competition will create design options for those communities seeking
to develop creative, usable and attractive affordable housing
solutions for their communities. The designs will be made available
for Associations to utilize statewide.
* South Lake Tahoe Association of REALTORS(R) -- Land Trust Housing
Development -- Following the example of the Humboldt Association,
South Lake Tahoe led the movement to secure land donated by the city
and developed a collaborative team between public, private and
non-profit agencies to develop a single-family home. This project is
a pilot to what they hope will grow in perpetuity.
* North San Diego County Association of REALTORS(R) -- Manufactured
Housing Coalition -- Broadening the awareness of innovations in
manufactured housing and its potential to serve as one of many
affordable housing solutions, the North San Diego County Coalition is
showcasing and sharing information on the potential that exists with
this underutilized form of homeownership.
* Oakland Association of REALTORS(R) -- In an effort to continue to
build on previous successes, the Oakland Association has partnered
with other community-based education initiatives to begin growing the
next generation of homebuyers. Their education project is preparing
future homebuyers with financial literacy courses.
Tax-deductible donations may be sent to: C.A.R. Housing Affordability
Fund, Attn: Finance Dept., California Association of REALTORS(R), 525 S.
Virgil Ave., Los Angeles, CA 90020. For more information, visit
http://www.carhaf.org.
The California Association of REALTORS(R) (http://www.car.org) is one of the
largest state trade organizations in the United States, with more than
155,000 members dedicated to the advancement of professionalism in real
estate. C.A.R. is headquartered in Los Angeles.
SOURCE California Association of REALTORS(R)
back to topRelated links:
CONTACT:
Mark Giberson of California Association of
REALTORS(R), +1-213-739-8304, markg@car.org
