Our Vision and Mission Homebuyer Programs Homebuyer Education Affordable Homes Organizational History What is CRA? Board of Directors Lender Membership Committees Event Calendar AHC News Contact Us		Brief History of the Affordable Housing Clearinghouse In 1990 a group came together calling itself the Orange County Community Reinvestment Act Coalition comprised of community organizations, non-profit housing corporations, public agencies, non-profit housing shelters and advocates for lower income people. These groups included the Orange County Human Relations Commission, The Fair Housing Council of Orange County, and the Orange County Homeless Issues Task Force. The Coalition members identified the Community Reinvestment Act as a key legislative vehicle in ensuring that lending institutions meet the credit and affordable housing needs of low- and moderate-income people in the localities where these institutions have deposits. An assessment of federally insured banks' and thrifts' awareness and compliance with CRA requirements at the branch level was made through personal visits to over a dozen institutions. Exploration of community perception regarding the satisfaction of credit needs in the low- and very-low-income communities was assessed through a survey. The conclusions drawn from these efforts were that many lending institutions could better meet the credit needs of the community with the active cooperation and efforts of the Coalition in assessment of needs and outreach into the community. Affordable housing for low and very low income families and individuals was targeted as the primary need. A series of meetings with financial institutions and Coalition members was conducted during the spring and summer of 1991 with the intent of finding a common ground to found an organization committed to the building of affordable housing in Orange County. It soon became apparent that a first step was improving communication between lenders and those seeking financing mechanisms. It also became clear that the resources of government entities, special financing such as Assisted Housing Programs, the Federal Tax Credits, etc. needs to be coordinated and streamlined to make the production of more affordable housing a reality. The Orange County Affordable Housing Clearinghouse became a non-profit in August of 1991. Individual financial institutions were invited to become members of this organization and thereby would be included in the financing opportunities created. By December 1991 nearly $100,000 of capitalization costs had been raised from the lending institutions members, and an executive director had been hired. In that December, the Clearinghouse funded its first loan and began processing over $30 million worth of affordable housing opportunities.