Housing Opportunity FAQs
- What are the maximum funding amounts?
- How many grants can my association receive in a calendar year?
- How can the Level 1 grant be used?
- How can the Level 2 grant be used?
- Is there anything that grant funds cannot be used for?
- How far in advance should I submit a grant application?
- We are partnering with another REALTOR® Association for an activity. Can we both apply for a grant?
- What criteria are used to judge Level 2 grant applications?
- Is my association required to submit an evaluation after our activity is completed?
- Is my association required to make a financial contribution toward our activity in order to qualify for a grant?
- If my association is approved for a grant, when will we receive the funding?
- Funding Process Details
There are two levels of funding. Requests may be made up to the noted maximums; however, a lesser amount may be awarded based on the evaluation of the application.
Level 1 – $1,125 maximum award
Level 2 – $5,000 maximum award
An association can receive up to two Housing Opportunity grants in a calendar year.
Level 1 – maximum of one grant per calendar year
Level 2 – maximum of one grant per calendar year
The Level 1 grant can be used to hold either the Employer-Assisted Housing or Expanding Housing Opportunities class; to host a speaker who can address specific affordable housing issues; or to hold a meeting with community stakeholders to develop coalition efforts.
The Level 2 grant can be used to support activities that address a specific affordable housing issue in a community or state. Activities should involve partnerships and have a broad community reach.
Associations cannot receive funding for activities previously supported by a Housing Opportunity grant (ex. recurring events such as housing expos or classes). Additionally the following are NOT eligible uses of grant funds.
|REALTOR® association staff time/hours||General operating expenses||Materials for construction/rehab of a property|
|Fundraising contributions||Donations to another organization||Landscaping materials|
|Money to hold a fundraiser||Cash prizes or purchase of gifts and prizes||Home furnishings|
Level 1 applications are accepted on a rolling basis and should be submitted at least 30 days before the date of the activity. Decisions are made within a week of submission.
Level 2 application deadlines are the 15th of each month; January through September. Select the submission deadline that is at least six weeks prior to the date of the activity. Decisions are typically made within 30 days of the application deadline.
Multiple associations can apply for funding for the same activity. However, the combined funding request cannot exceed the maximum award for the grant level.
The grant review group considers the following things when making Level 2 funding decisions:
Alignment with Housing Opportunity Program goal
Does the proposed activity support the goal of positioning, educating, and assisting REALTORS® to create housing opportunities for all?
Demonstration of critical need
Does the applicant thoroughly explain the affordable housing issue that needs to be addressed?
Quality of the proposed activity
Is the proposed activity of high-quality with a clear purpose, well-defined action items, and measurable goals?
Level of commitment
Does the proposed activity involve a significant level of commitment in terms of member involvement, financial contribution, and staff time?
Yes, recipients must submit an evaluation after completion of the activity. Please note that the completed evaluation is required as part of the funding disbursement process.
Is my association required to make a financial contribution toward our activity in order to qualify for a grant?
A financial contribution equal to at least 10% of the requested amount is required for Level 2 grant requests. A financial contribution is not required for Level 1 requests; however, it is viewed as a sign of commitment.
Funds are disbursed through a reimbursement process. The association must submit required documentation (outlined below) and complete an online evaluation about the grant activity.
The association is required to submit proof of money spent totaling the amount of the grant award, including the 10% contribution from the association.
Acceptable forms of proof include an invoice from a vendor, a signed contract with a consultant/speaker, receipts for items purchased, and cancelled checks.
The request for reimbursement must be made within 90 days of completion of the activity.
The association must submit an evaluation after completion of the activity.
The activity must take place within one year of grant approval notification from NAR in order to be eligible for funding reimbursement.
Questions? Contact Wendy Penn at 202-383-7504