Northern Arizona Nonprofits Come Together to Create a Self-sustaining Loan Fund to Assist First-time Homebuyers
Presentation of the $25,000 check for Housing Solutions of Northern Arizona, pictured left to right: Brenda Silveus (Pioneer Title), Sarah Darr (NAZ Housing Fund Co-Chair), Devonna McLaughlin (Housing Solutions Chief Executive Officer), Tad Moore (NAAR 2022 President), and Jessica Garard (NAAR 2022 President-Elect)
FLAGSTAFF, AZ – Northern Arizona is known for its disproportionately high cost of housing, and over the last few years that disparity only continues to grow. Flagstaff’s housing costs are currently 29% higher than the national average, making safe affordable housing out of reach for local working families
As of December 2021, Flagstaff Single Family Homes reached an all-time high as Median Sales Prices peaked at $620,000. However, opportunity is on the horizon for some of our cost-burdened community members, thanks to donations received through the efforts of several Northern Arizona Nonprofits.
On January 6th, the Arizona Community Foundation of Flagstaff, partnering with the Northern Arizona Association of REALTORS®, had the honor of presenting Housing Solutions of Northern Arizona with a $25,000 grant, the first awarded by the newly-formed Northern Arizona Housing Fund. The grant will be used to create a self-sustaining loan fund to provide first-time homebuyers with down payment and closing cost assistance.
The Northern Arizona Housing Fund also awarded an additional $25,000 grant to Red Feather Development Group, that will help fund desperately needed health and safety improvements to eight existing homes located on the Native American reservations within Coconino County.
“NAAR has always been at the forefront in giving back to the communities it serves, and the Northern Arizona Housing Fund is no exception,” explains Tad Moore, NAAR’s 2022 Board of Directors President. “REALTORS® are informed and engaged community leaders, driving economic development, affordability, and innovative community design. We’re ready to tackle the Northern Arizona housing crisis head on—That’s Who We R!”
In addition to direct monetary donations from NAAR’s Members and Affiliates, NAAR partnered with the NAZHF to develop a program in which Buyers and Sellers in Coconino County can support the Northern Arizona Housing Fund when they buy or sell their home. The donation is collected at closing and can be eligible for a match by their REALTOR® or Title Company.
According to the Arizona Community Foundation of Flagstaff, the Northern Arizona Association of REALTORS®, as an organization and along with individual REALTORS®, have given over $44,000 since NAZHF’s inception in 2020. The majority of these funds have also been matched further with generous contributions from local title agencies Pioneer Title and Clear Title of Arizona. NAAR hopes to further increase their participation in the program throughout 2022 by encouraging “a donation with every transaction.”
Talk to your REALTOR® about supporting the Northern Arizona Housing Fund or visit nazhousingfund.org to learn more.
About Arizona Community Foundation of Flagstaff:
The Arizona Community Foundation of Flagstaff secures, manages, and allocates donor gifts for charitable purposes as part of a permanent endowment. Endowed funds maximize donor gifts, improving the welfare of the community today while leaving a legacy for future generations. Since inception, ACF of Flagstaff has awarded over $30 million in grants and scholarships to students and local organizations. For more information, visit azfoundation.org/Give-Where-You-Live/Flagstaff
Pats Shriver, Regional Director
pshriver@azfoundation.org
About Northern Arizona Housing Fund:
Committed to putting homes within reach for those in need, the Northern Arizona Housing Fund Committee is comprised of ACFF Members, REALTORS®, Lenders, and other industry experts. The Committee determines which agencies will be awarded funds and can have the most impact on housing challenges that are unique to Northern Arizona. For more information, visit nazhousingfund.org
Pats Shriver, Arizona Community Foundation of Flagstaff Regional Director
pshriver@azfoundation.org
About Housing Solutions of Northern Arizona:
Housing Solutions of Northern Arizona is a nonprofit organization founded through the grassroots efforts of local citizens concerned about Flagstaff’s lack of affordable housing. With a focus on programs designed to help local residents identify and maintain safe and decent housing, their mission is to build opportunities for sustainable, affordable housing in Northern Arizona. For more information, visit housingnaz.org
Devonna McLaughlin, CEO
devonnam@housingnaz.org
About Red Feather Development Group:
Red Feather Development Group partners with American Indian Nations to develop and implement sustainable solutions to local housing needs. We envision a world where healthy and safe housing is available to all and we are all inspired to work collectively to create self-sustaining communities. For more information, visit redfeather.org
Kiera Coughlan
kiera@redfeather.org
About Northern Arizona Association of REALTORS®:
Northern Arizona Association of REALTORS® is your local resource for all things Real Estate. With the vision to be a trusted ally, guiding its Members, Affiliates, and those they serve through the ever-evolving real estate landscape, NAAR preserves, protects, and advances the right to real property for all—regardless of race, ethnicity, gender, religion, age, sexual orientation, gender identity, disability, national origin, socioeconomic status, political affiliation or any other qualities by which an individual may define themselves. For more information, visit nazrealtor.com
Tad Moore, REALTOR® and NAAR’s 2022 Board of Directors President
tad@bestflagstaffhomes.com
Judy Jackson, Chief Executive Officer
judyj@nazrealtor.com
