Where:
Boardman, Oregon

Problem:
Low-income mobile home park residents needed affordable financing to purchase and improve their park

Solution:
RCAC provided a $750,000 loan help the residents purchase and rehabilitate their manufactured home park

When Desert Springs Estates residents heard that their 127-unit manufactured home park in Boardman, Oregon was listed for sale they were understandably concerned about the future of their homes. They feared that under new private ownership, increased rents would make the park unaffordable and maintenance concerns would not be addressed. To help the residents purchase and rehabilitate their manufactured home park and ensure their affordable homes’ stability, RCAC provided a low-interest $750,000 loan.

Resident ownership ensures the park is not converted to other uses, stabilizes monthly rent, and gives residents’ full control of the community. Often when mobile home parks are sold to for-profit owners, park rents rise, and the low-income residents are forced to find other less affordable housing. And, that could be difficult in a town like Boardman, where a recent market analysis study indicated that demand for affordable housing is particularly acute. An income survey of the parks residents indicated that 78 percent have incomes of 80 percent or less of the adjusted median household income for a family of four in Morrow County, Oregon.

Desert Springs Estates residents formed a cooperative corporation under the name Bella Vista Estates Cooperative to purchase the park. RCAC’s loan financed a portion of the acquisition and helped the group rehabilitate the park, and ensured that the park remains an affordable housing option in Boardman. Rehabilitation included developing new pads and driveways and upgrading the park’s common facilities, which included roads and a small playground area. With RCAC’s financing, Desert Springs Estates residents kept their homes affordable and assumed full control of park operations.