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Jan. 11, 2001 The Cortez Area Association of Realtors has announced that it has funds available for qualified Cortez and surrounding area nonprofit organizations that provide affordable housing to Colorado citizens. Grant applications will be accepted through February 15, 2001. "The Cortez Area Association of Realtors has over $7,900 available for local housing projects," said Sandy Manning, local chairperson of the Colorado Association of Realtors Housing Opportunity Foundation (CARHOF). "What has made this possible is the Realtor members and brokers and the area banks in the area who participate in CARHOF." CARHOF, a 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. Last year, CARHOF donated close to $500,000 statewide. 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 Maxine Keck at (970) 565-0112. |
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Copyright © 2001 the Cortez Journal.
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