It makes me smile in deep appreciation of your question. At least you're asking the question, which is better than ignoring the language barriers of your community. As a real estate professional of mixed heritage, I speak English and Spanish with my real estate clients. With those that have a strong command of the English language, I speak English. It gives them a sense of pride that they are able to communicate effectively that way. With those clients that do not speak English, and prefer a conversation in Spanish, I speak to them in Spanish.
Here's my take on it... I don't think that ALL forms and and documents need to be translated into other languages, but contracts and agreements should have a translation somewhere that helps the signer to fully understand the terms and conditions of the arrangement they are entering in to. Maybe not every flyer, or poster, but some should be in alternative languages.
Now, to the question of "How do I pay for this?"
Volunteers make great translators! Often you can connect with local law schools and ask them about pro-bono work done by students - they could help you with contracts and agreements. Local colleges that have a service-learning unit are glad to take on projects like this. You could pursue AmeriCorps and VISTA volunteers to do this kind of work. There are a number of organizations that have volunteer pools that are bi-lingual that would be glad to help. You can also connect with local churches in the area, many of them have bilingual staff members that might be willing to do this kind of work. You may be surprised by level of willingness of your community to help out in this regard.
If a local volunteer recruitment effort doesn't work, you can engage virtual volunteers around th country that might be willing to help out in this regard. A new movement in volunteerism employs the use of volunteers in other geographys that are invested in your success, i.e. someone that lived in the neighborhood for many years and then moved away. If they had positive memories of the community where they once lived, they would emotionally invested it its success despite their change in residence. You can find both kinds of volunteers on volunteermatch.org
Check out this link from Volunteermatch.com - Ads for Volunteer Translators
Effective communication is an end unto itself. Happy constituents make better constituents in my opinion.
If you'd like to bounce some ideas around about how to achieve some this through a volunteerism perspective, drop me a line, I'm glad to help.