Colorado REALTORS® Respond to COVID-19 Housing Crisis
Colorado Association of REALTORS® Foundation Awards Disaster Relief Grants Totaling $125,000 to Three Colorado Non-Profits
ENGLEWOOD, CO – May 15, 2020 – The COVID-19 pandemic has left many Coloradans unable to make rent and mortgage payments due to layoffs and furloughs. In this time of unprecedented crisis, the Colorado Association of REALTORS® Foundation announced this week it is awarding $125,000 in grants to three Colorado non-profit organizations to assist people who are experiencing housing-related emergencies.
Grant recipients include
- Brother’s Redevelopment – $25,000
- Colorado Coalition for the Homeless – $50,000
- Habitat for Humanity of Colorado – $50,000
Brother’s Redevelopment will utilize the funds to supplement and support Colorado’s Emergency Housing Assistance Program (EHAP) provided by its longtime partner, the Colorado Department of Local Affairs Division of Housing. The EHAP is limited to households who were earning less than 50 percent of Area Median Income (AMI) prior to their COVID-19 related hardship. The CAR Foundation grant will be used to aid households earning between 50 percent and 80 percent of AMI who would otherwise not qualify for State EHAP assistance.
Since 1971, Brother’s Redevelopment has provided housing and a variety of housing-related services for the region’s low-income, elderly, and disabled residents.
Colorado Coalition for the Homeless (CCH) established a Family Emergency Fund to help families facing housing emergencies due to the COVID-19 crisis. CCH will use CAR Foundation funding to provide emergency rent and mortgage assistance for families who are facing eviction and foreclosure.
As the largest homeless service provider in Colorado, CCH has delivered homeless prevention assistance since 1984. CCH’s mission is to work collaboratively toward the prevention of homelessness and the creation of lasting solutions for families, children, and individuals who are experiencing or at-risk of homelessness throughout Colorado.
Habitat for Humanity of Colorado (HHC) will use the CAR Foundation grant for an emergency mortgage assistance fund established to offer critical assistance to Habitat partner families struggling to keep their homes. Across Colorado, Habitat for Humanity of Colorado anticipates 30 percent of Habitat homeowners will need mortgage assistance due to loss of income and/or job from COVID-19. In some Colorado communities it is possible every homeowner will need assistance.
Founded by affiliates in 1992, Habitat for Humanity of Colorado is a nonprofit 501(c)(3) corporation whose purpose is to build the capacity of affiliates by increasing access to resources, facilitating communication between affiliates and the community, and providing statewide leadership toward the creation of thriving communities that support healthy families. HHC has 25 affiliates serving 45 communities across the state.
Due to overwhelming need, the CAR Foundation will offer a second grant cycle from July 13, 2020 to Aug. 31, 2020 with an additional $100,000 that will be invested by Sept. 15, 2020. Non-profit organizations that provide housing-related services are encouraged to apply. Grant Guidelines and Acceptance Conditions can be found on the CAR Foundation website. Contact Stacey Brown, [email protected] or 303-785-7126, with questions and for submissions.
The Colorado Association of REALTORS® Foundation promotes safe and affordable housing, advances homeownership for all Coloradans, and provides housing-related disaster assistance to our neighbors in need. The CAR Foundation has invested over 7.8 million over the last 25 years to support Colorado nonprofits.
For more information, visit www.CARFoundation.org.