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Manufactured housing parks have the characteristics
of home ownership and apartment living. Home to four percent
of the state’s residents, manufactured housing parks make people face
the problematic situation of owning their homes but renting
the land underneath from the park owner. Problems arise
if rents are increased dramatically, the park is not
maintained, or worse, the park is closed down.
Cooperative ownership puts control into the residents’ hands, with access to less expensive financing, gives homeowners
the chance to build equity and have long-term stability. Starting
with the Meredith Center Cooperative formed in 1984, 86 manufactured
housing parks are now owned by homeowners in the New Hampshire
parks, and assisted by The Loan Fund.
The Loan Fund, through its Cooperative Assistance Team of the Manufactured Housing Park Program, helps homeowners in manufactured housing parks in New Hampshire through the process of cooperative conversion by:
- Assisting homeowners in organizing as a cooperative and establishing a board of directors and committees.
- Helping to arrange financing and/or lending funds to
the resident-owned cooperative for predevelopment work,
deposit financing, purchase and rehab.
- Providing ongoing technical support and training to cooperatively owned parks.
We’re ready to talk with you. Please contact Peter
Rhoads, Program Manager of CAT, at 603-224-6669, ext.
218 or prhoads@theloanfund.org
To request a copy of The Cooperator, a newsletter
for members of cooperative manufactured housing parks, please
contact Trina Robichaud at 603-224-6669 ext. 237 or trobichaud@theloanfund.org.
"No Longer a Secret. The Manufactured Housing Sector Can Create Long-Term Value." By Paul Bradley
"A Fresh
Look at Manufactured Housing." By Paul Bradley. Federal Reserve Bank of Boston, Fall 2002.
"Manufactured Housing Park Cooperatives in New Hampshire: An Enterprise Solution to the Complex Problems of Owning a Home on Rented Land." By Paul Bradley
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