California Association of REALTORS®
                          Housing Affordability Fund

                  FREQUENTLY ASKED QUESTIONS

 

1. What is the CAR Housing Affordability Fund (H.A.F.)?

The HAF was established in 2002 as a charitable nonprofit fund, whose purpose is to provide direct assistance to address the housing crisis in California. The state suffers from both a chronic long-term housing shortfall and a chronic housing affordability problem.

C.A.R. already has a long track record of achievements on the housing affordability front in the policy/legislative arena. The HAF will support statewide and local efforts to make a direct impact on the housing affordability problem.

2. What is the HAF Mission Statement?

The California Association of REALTORS® Housing Affordability Fund plays an active role in addressing the ongoing housing affordability crisis facing our state. The fund will raise and distribute funds and partner with other groups to promote housing and homeownership and address all housing opportunities locally and statewide.

3. Are contributions to the HAF tax-deductible?

Yes. This is a charitable fund so your contributions as an individual/business are tax-deductible to the extent provided by law. HAF is exempt under Section 501(c)(3) of IRS Code.

4. Where can I send my contribution?

Please send your contribution and make checks payable to:

CAR Housing Affordability Fund (or CARHAF)
California Association of REALTORS®
Attn: Alma Menchaca, Member Information Department
525 S. Virgil Avenue
Los Angeles, CA 90020

5. What types of contributions can the HAF accept?

The HAF can accept contributions in the form of cash, checks, and credit card payments. For more information on they types of contributions HAF accepts, please contact Monica Rodriguez at 213-739-8380 or monicar@car.org

6. Who may contribute to the HAF?

The HAF accepts tax-deductible charitable contributions from REALTORS®, other individuals as well as business and other organizations.

7. How will the HAF address housing affordability problems?
    What types of projects will HAF support?

H.A.F. supports a wide variety of programs based on the stated need and participation of the local REALTOR® association. Some efforts have included:

·  Down payment or closing cost assistance
·  Employer assisted housing program
·  These are just examples. Each local Association is free to choose solutions that fit the needs of its
   community.

8. How can local Associations request funds?

Local Associations may apply for funds by submitting a Local REALTOR® Association Funding Request Form   (pdf file) located at www.carhaf.org. The Funding Request form asks local Associations to provide details of the proposed project/program for which funds are requested: name of project, brief description, cost of project, other sources of funds, and how HAF funds will be used.

9. Is there a deadline for funding request applications?

Applications are received on an ongoing basis throughout the year. HAF expects to respond to requests 30-45 days from the date of receipt. Applying associations will present their proposal at a scheduled Housing Affordablity Fund Committee Meeting. Applications received less than 30 days prior to a scheduled C.A.R business meeting, will be considered at the next scheduled C.A.R. Business Meeting. Contact Monica Rodriguez for more information (213)739-8380.

10. What are the obligations of a local Association that has received a funding award from HAF?

Once the project is completed, the local Association is required to submit a final report (and other materials as appropriate) that details the project and its final outcome. HAF will publish a summary of the project on its website, and serve as a conduit to disseminate information about success stories to local Associations across the state.

11. How will funds be allocated?

Awards will be based upon merits of the proposed projects.  No more than 10% of the fund balance may go towards an individual award without full C.A.R. Board of Directors approval.  No more than 25% of the fund balance may be disbursed per year without full C.A.R. Board of Directors approval.


HAF Expenditure Guidelines

The following guidelines indicate the many ways in which HAF funds may be used to advance the housing affordability interests of REALTORS® and REALTOR® organizations.

·   HAF funds must be used for charitable purposes that supports HAF's mission to play an active
    role in addressing the ongoing housing affordability crisis facing our state by promoting
    homeownership and addressing housing affordability issues statewide.

·   HAF funds CANNOT be used for activities that directly or indirectly support or oppose a candidate
    for public office.

·    HAF funds SHALL NOT be used to support or oppose the following:
     1.) Ballot Measure Campaigns;
     2.) REALTOR® Issue Mobilization Campaigns;
     3.) Dues and Contributions to Coalitions;
     4.) Receptions/Events/Conferences;
     5.) Professional or Volunteer Advocacy;
     6.) Advocacy and Policy Education; and/or
     7.) Policy Research and Consulting Services.  
      These functions are supported by IMPAC funds.

·    For specific information on HAF guidelines and procedures, contact HAF staff:  Monica Rodriguez
    at (213)739-8380 or email: monicar@car.org.

Self-Help Project Guidelines

At no time during 2004 will H.A.F. commit more than 50% of the remaining 25% total annual disbursement to Self-Help projects (Including Habitat for Humanity).

Request for funds will not exceed the LESSER of: A) $50,000 or B) 10% of total existing funds. However, if a Regional approach with a majority of associations develops a large Habitat program, H.A.F. may grant funds up to 10% of total existing funds. In addition, H.A.F. may consider granting a larger sum with consent of the Board of Directors.

HAF Guiding Principles

The HAF Committee will base its decisions upon the following guiding principles:

·    In general, all programs should require matching funds to leverage C.A.R.H.A.F. funds. This
    includes grants to local associations. For example, a local association could request funds from
    C.A.R.H.A.F. for a project, but it should be able to obtain matching funds from other entities such
    as lenders, government, non-profits or other housing advocates.
·    Where possible, funds should be recoverable.
·    A REALTOR®'s services should be encouraged in all home purchase transactions. This will require
    that REALTORS® become familiar with both the C.A.R.H.A.F. and the programs offered by
    C.A.R.H.A.F. partners.

12. Who do I contact for additional information?

You may visit the HAF Web site. Additionally, you may contact Monica Rodriguez, Housing Opportunity Program Manager at (213)739-8380 or email at monicar@car.org.


rev. 10/09