The C.A.R. Housing Affordability Fund (C.A.R.H.A.F.) announced this week that it has raised nearly $920,000 to date. Since the fund's inception in January 2003, 39 local REALTORŪ associations throughout the state have contributed $248,000, with the balance coming from more than 675 individual donors and C.A.R.'s initial $500,000 donation to the fund.
"Our state's long-standing housing crisis poses a challenge to all Californians, and REALTORSŪ can respond directly to that challenge through the C.A.R. Housing Affordability Fund," said C.A.R. President Ann Pettijohn. "The major fund-raising thrust in 2004 will be directed toward corporate support of C.A.R.H.A.F."
The fund's resources are being distributed through local REALTORŪ associations that have submitted 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 last year, the fund has disbursed $98,450 to six additional projects, ranging from a homebuyer assistance center in Oakland to an employer-assisted housing program in San Diego.