Manufactured Housing Cooperative Development

CASA of Oregon is working with the owner of Talent Mobile Estates to purchase the park, complete its redevelopment, and secure funding for replacement homes.  We hope to have the acquisition completed by 6/15/2022.  A community engagement process will follow.  Our community engagement will focus on working with households displaced by the 2020 Alameda wildfire.  The community will advise CASA on final site improvements and home plans to ensure the redeveloped Talent Mobile Estates will meet the needs of its new homeowners.  As we progress with the development of Talent Mobile Estates, more information will be shared with the community.

CASA de Oregón está trabajando con el propietario de Talent Mobile Estates para comprar el parque, completar su remodelación y obtener fondos para viviendas de reemplazo.  Esperamos tener la adquisición completada para el 15/06/2022. Seguirá un proceso de participación de la comunidad.  Nuestro compromiso con la comunidad se centrará en trabajar con los hogares desplazados por el incendio forestal de Alameda de 2020. La comunidad asesorará a CASA sobre las mejoras finales del sitio y los planes de vivienda para garantizar que Talent Mobile Estates reconstruido satisfaga las necesidades de sus nuevos propietarios. A medida que avancemos con el desarrollo de Talent Mobile Estates, se compartirá más información con la comunidad.

 

Manufactured Housing Cooperative Development

Promoting affordable home ownership through the creation of resident-owned, manufactured housing communities

CASA of Oregon’s Manufactured Housing Cooperative Development  Center (MHCDC) is one of nine Certified Technical Assistance Providers (CTAPs) under the national ROC USA™ network. ROC USA and its affiliate, the New Hampshire Community Loan Fund, are non-profits with over 25 years of experience combining expert technical assistance with specialized purchase financing for resident cooperative corporations.

As a member of the ROC USA network, CASA of Oregon delivers pre- and post-purchase technical assistance and helps manufactured homeowners secure the financing needed to buy their communities and shape their economic futures through resident ownership. Participation in this network gives CASA of Oregon access to financial products, technical assistance trainings, and resources developed by experts from ROC USA and the New Hampshire Community Loan Fund.

CASA’s loan fund has provided resident cooperatives with over $3.8 million in park purchase financing and over $250,000 in pre-development financing.

Since 2008, CASA has

1
Parks Converted to Resident Ownership
0
Spaces Converted to Resident Ownership
1
Parks in the Process of Conversion
1
Spaces In the Process of Conversion
1
Single Family Homes
0
On-farm Bed Spaces
1
Community Facilities
1
Multifamily Complexes Which Totals 1,567
Rose M. Ojeda

Our staff is here to help you.

Rose Ojeda

MHCDC Director

(503) 687-3322

How does it work?

1 Membership Per Household

Membership is limited to park residents – one membership per household.

Must Own

Members must own, not rent, their homes.

Members Control the Monthly Rent

Members control the monthly rent.  Site rent for non-members will often be set higher than rents for members.

Share Decision Making

Members share equally in the decision-making.

Owned by the Cooperative

The park is owned collectively by the cooperative.  Individual homeowners don’t own their individual sites.

Maintained by the Cooporative

The cooperative holds the mortgage and is responsible for paying bills, property taxes, repairs, maintenance, etc.

Remain as a Park

Once purchased by the cooperative, the park must remain as a park and cannot be sold with the intention of redevelopment.

The Board of Directors manage

The Board of Directors manage the day-to-day operations of the cooperative.

Long Term Lease

Typically, membership entitles a person to lease a particular space on a long term and near-perpetual basis (at least 20 years, ideally longer) as long as they are a member in good standing.

Sell My Manufactured Home Park

CASA of Oregon (CASA) has the financial resources and expertise to help your residents buy your community when you are ready to sell.  Our experienced staff will help residents determine a fair market price based on current rents and cap rates for the area, in order to make you a competitive offer.  In addition, owners who sell to resident-owned cooperatives may be able to take advantage of an Oregon capital gains tax exemption.

Drawing on over 30 years of housing and facilities development experience, CASA carries out all of the steps necessary to make this a simple and easy process, including:

  • Organizing residents and preparing them to purchase the community cooperatively.
  • Negotiating the terms of the sale on behalf of the cooperative.
  • Conducting the required due diligence.
  • Securing the financing for purchase.

Most importantly, as a non-profit cooperative supported by CASA’s technical expertise, residents will have access to a reliable financing source that is not available to other potential buyers. Benefits include:

  • Preservation of the community!
  • Timely transactions – on routine transactions, we aim to go from start to close in 100-150 days
  • Expert technical assistance during transaction
  • Access to multiple financing sources such as ROC USA® Capital
  • Market rate transactions
  • Regular communication on park purchase progress

CASA is committed to ensuring a timely and professional transaction and all inquiries will be kept confidential. Our targeted approach is vitally important to our success with sellers and homeowners alike.

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