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PRESS
RELEASE
FOR
IMMEDIATE RELEASE
Funds
Available for (City or Area) Nonprofits
(Date)
– (City, State) – The (Name of Board or
Association) has announced it has funds available for
qualified (City or Area) nonprofit organizations and
public agencies that
provide affordable housing to Colorado citizens.
Grant applications will be accepted through
(July 15, 2001).
(Quote)
Example: “The
South Metro Denver Association of REALTORS® has over
($10,000) available for local housing projects,”
said Larry Carr, local chairperson of the Colorado
Association of REALTORS® Housing Opportunity
Foundation (CARHOF).
“To date, the foundation has distributed over
$2.5 million statewide.”
CARHOF, a 501(c)3 nonprofit foundation established by
the Colorado Association of REALTORS®, collects
interest from earnest money held in home purchases.
By law, brokers cannot earn interest on escrow
trust accounts. With
CARHOF, however, the interest can be gathered and made
available as grants aiding affordable housing
programs, crisis shelters and other housing-related
projects. Seventy
percent of interest contributions are returned to the
community from which it was collected.
Twenty percent goes to a statewide fund for
special projects and disaster relief.
For example, CARHOF helped fund flood relief
efforts in Rifle in 1992, Fort Collins and Sterling in
1997, and Rocky Ford in 1999.
To be
eligible for funds, organizations must be based in
Colorado, have a housing-related mission, and be a
nonprofit agency with a 501(c)3 status or a public
agency.
For more
information, call (Name) at (Local board or
association) at (Phone number).
The
Colorado Association of REALTORS® Housing Opportunity
Foundation (CARHOF) is a nonprofit foundation designed
to assist housing efforts across the state.
CARHOF is part of the Colorado Association of
REALTORS®, the largest real estate trade association
in the state, representing more than 19,000 members.
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