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Grants Available to Local HBAs for ‘Buy-Now’ Campaigns
In an effort to bolster home sales in markets hit hard by the current housing downturn, NAHB has launched a multi-million dollar grant program to assist local home builders associations in conducting “buy now” advertising campaigns.
“This represents a major effort by NAHB to reach out and help our local HBAs that are struggling to rebuild consumer confidence in markets where home sales and production have dropped significantly over the past year,” said NAHB President Brian Catalde.
Approved during NAHB’s recent board of directors meeting in Orlando, Fla., the “buy now” ad assistance program will provide grants to qualifying HBAs in three different categories:
- HBAs conducting ad campaigns in the top 10 media markets would receive assistance equaling up to one-third of the total cost of the campaign, with a maximum NAHB contribution of $75,000. In other words, an HBA conducting a campaign costing a total of $225,000 could receive a $75,000 contribution from NAHB and cover the remaining $150,000.
- HBAs with more than 250 members operating in areas outside of the top 10 major media markets would qualify for matching grants up to a maximum of $40,000 and be required to pay for at least half the cost of the campaign.
- HBAs with 250 or fewer members would qualify for grants of up to $5,000.
To qualify for grants, the ads must deliver a “buy now” message, be placed in 2007 and conducted in markets that have experienced a major decline in home sales and housing production.
A total of $3 million was approved by the NAHB board. NAHB will evaluate the effectiveness of the program after the first $1 million in grants is put to work by local associations. If it is determined that the local ad campaigns have been successful, then the remaining $2 million will be made available in grants to qualifying HBAs.
To learn more about the program and the ground-rules for applying for grants, click here (nahb.org/buynowapplication), or call Niki Clark at 800-368-5242 x806l.
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