For Immediate Release:
September 11, 2007

REALTORS^® SUPPORT AFFORDABLE HOUSING PROJECTS

New Jersey Association of REALTORS^® Housing Opportunity Foundation, Inc. presents $57,158 check to New Jersey Community Capital

(Edison, NJ) REALTORS^® know first-hand the difficulties many New Jerseyans experience when it comes to obtaining homeownership. Today, the New Jersey Association of REALTORS^® Housing Opportunity Foundation, Inc. (NJARHOF) donated $57,158 to New Jersey Community Capital which will go towards assisting a number of affordable housing projects throughout the state.

"Housing is an essential part of how our communities function and thrive," said NJARHOF President Christina P. Clemans. "Through our wonderful relationship with New Jersey Community Capital over the past four years, we were able to help in the creation of more affordable housing options in our state. These funds go towards supporting important housing projects in neighborhoods throughout the state and providing more people with a place they can call home."

Trustees of NJARHOF presented the check to Jennifer M. Bredehoft, community and investor relations associate of New Jersey Community Capital during a NJAR^® Board of Directors meeting. NJARHOF's donation will go towards New Jersey Community Capital's Affordable Housing Fund. The program provides predevelopment funds for affordable housing projects developed by nonprofit and community-based organizations. The projects help create rental and homeownership opportunities for low- and moderate-income individuals and families in New Jersey who qualify.

"NJARHOF's contribution to the Affordable Housing Fund is extremely valuable because it enables New Jersey Community Capital to leverage its limited resources and provide critical financing to help create and preserve affordable housing throughout New Jersey," said Bredehoft. "New Jersey Community Capital greatly values NJARHOF's commitment to increasing affordable housing options for New Jersey residents, and looks forward to its continued success."

In the past, NJARHOF funds have gone towards producing hundreds of affordable housing units throughout the state such as the redevelopment of the F. Berg Hat Manufacturing Company, a one-time hat-making factory in Orange, N.J. which upon completion will include a mix of 35 market-rate and affordable housing units. Funds have also supported the Swan Homes development in Pleasantville, N.J., and the redevelopment of three vacant buildings on Freeman Street in Orange known as the Brass Company, into a mixed-use facility including arts related workshops, retail, and residential apartments.

"While REALTORS^® help put people into their homes on a daily basis we realize that many others face challenges when trying to become a homeowner," said Clemans. "Many of these individuals were born and raised here in New Jersey and cannot afford to stay here to raise their families and stay close to their loved ones. NJARHOF's donation today will help allow more people to establish and keep their roots in the Garden State."

For more information about NJARHOF and how you can contribute to the Foundation please visit http://www.njar.com/njarhof.shtml or call (732) 494-5616.

The New Jersey Association of REALTORS^® Housing Opportunity Foundation, Inc. (NJARHOF) is a 501 (c) (3) charitable organization. Its mission is to create more opportunities for homeownership in New Jersey. The Foundation raises funds for housing opportunity and distributes these funds to other 501 (c) (3) organizations throughout the state that provide home buyer education, develop public awareness and create affordable homeownership options for New Jerseyans.

The New Jersey Association of REALTORS^® is a non-profit organization serving the professional needs of approximately 55,000 REALTOR^® and REALTOR-ASSOCIATE^® members in the state. 2007 marks the association's 90th anniversary year. REALTOR^® is a registered collective membership mark which may be used only by real estate professionals who subscribe to the REALTOR^® organization's strict Code of Ethics and are members of the national, state and local REALTOR^® organizations. For more information, please visit www.njar.com.

New Jersey Community Capital is the trade name utilized by Community Loan Fund of New Jersey, Inc. and its affiliates for its financial and consulting products and services. Its mission is to facilitate the flow of money and knowledge to create wealth and well-being in communities. Since its founding, New Jersey Community Capital has committed financing for approximately 550 projects totaling nearly $150 million in the housing, community services and small business sectors.

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