FREQUENTLY ASKED QUESTIONS
1. What is the CAR Housing Affordability Fund (H.A.F.)?
The HAF was established in 2002 as a charitable non-profit 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 H.A.F. will support statewide and local efforts to make a direct impact on the housing affordability problem.
2. What is the H.A.F. 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 H.A.F. tax-deductible?
Yes. This is a charitable fund so your contributions as an individual/business are tax-deductible to the extent provided by law. H.A.F. 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:
C.A.R. Housing Affordability Fund (or C.A.R.H.A.F.)
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 H.A.F. accept?
The H.A.F. can accept contributions in the form of cash, checks, and credit card payments. For more information on the types of contributions H.A.F. accepts, please contact Monica Rodriguez at (213) 739-8380 or monicar@car.org
6. Who may contribute to the H.A.F.?
The H.A.F. 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 H.A.F. 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 . 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 H.A.F. funds will be used .
9. Is there a deadline for funding request applications?
Applications are received on an ongoing basis throughout the year. H.A.F. 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 H.A.F.?
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. H.A.F. will publish a summary of the project on its Web site, 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.
H.A.F. Expenditure Guidelines
The following guidelines indicate the many ways in which H.A.F. funds may be used to advance the housing affordability interests of REALTORS® and REALTOR® organizations.
· H.A.F. funds must be used for charitable purposes that supports H.A.F.'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.
· H.A.F. funds
CANNOT be used for activities that directly or indirectly support or oppose a candidate
for public office.
· H.A.
F.
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 H.A.F. guidelines and procedures, contact HAF staff:
Monica Rodriguez at (213) 739-8380 or e-mail: 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 H.A.F. 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 wil
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 C.A.R. H.A.F. Web site. Additionally, you may contact Monica Rodriguez, Housing Opportunity Program Manager at (213) 739-8380 or e-mail at monicar@car.org .
