NAR Launches $5 Million Grant Program for Workforce Housing

In today’s challenging economy, the National Association of Realtors® is taking action to make workforce housing more available. Through the Ira Gribin Workforce Housing Grants, NAR will award as much as $5.23 million to state Realtor® associations or their housing foundations to support workforce housing initiatives in their states.

One-time grants will be awarded on a sliding scale to state Realtor® programs that promote safe, decent housing for people with low and moderate incomes who cannot afford to live in the communities where they work. The grants are named in honor of Ira Gribin, a former NAR president who was a tireless advocate for fair and affordable housing for diverse populations.

“Realtors® build communities and know that today’s tight economy and continuing mortgage crisis are making it even more challenging for working families to purchase and keep their homes,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “The Ira Gribin Workforce Housing Grants honor the memory of one of NAR’s great leaders, and furthers our commitment of increasing affordable housing opportunities available to a broad range of working families to help them achieve their dreams of owning a home.”

Grants of $50,000 are available to state or territorial Realtor® associations with 5,000 or fewer members. Larger Realtor® associations are eligible for $50,000 plus an additional two dollars per member for each member over 5,000.

Funds may be used for activities such as implementing a workforce housing program developed by the state Realtor® association or foundation; implementing an NAR workforce housing program within the state; or launching or expanding a Realtor® education program related to workforce housing.

All state and territorial Realtor® housing foundations or associations are encouraged to apply. Local Realtor® housing foundations or associations, individual Realtors®, and firms are not eligible; however, these groups are encouraged to work with their state counterparts to participate in the program.

Applications will only be accepted during 2009 and 2010. Applications will be reviewed and grants awarded on an ongoing basis throughout the two-year period.

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