An example of a CHFA Multifamily Lending Mobile Home project.
Longmont Mobile Home Community
Longmont, Colorado
Longmont Mobile Home Community, Longmont
Purpose
To provide financing to assist the resident co-operative to purchase the park and become the owners and managers, resulting in a preservation of their homes for the long-term.
Who the Project Serves
36 low-income households in Longmont that own mobile homes.
Community Impact
This cooperative (LMP Co-op) eliminates the homeowners' risk of displacement, gives them more control over lot rent fluctuations, and preserves affordable homeownership in Longmont.This was the second park in Colorado structured through the ROC USA (Resident Owned Communities) model and the first in which CHFA participated.
Project Partners
- ROC USA
- Impact Development Fund
- Thistle Communities
How We Got the Deal Done
$1,194,800 CHFA Housing Opportunity Fund (CHFA HOF) gap financing
Pair with these CHFA Programs
For the manufactured home communities, we would not likely pair more than one CHFA program. These would generally be funded with HOF.