As private equity giants and national real estate investors gobble up these communities across the country, Colorado’s new laws have birthed a swath of creative solutions designed to keep mobile homes out of corporate hands.
Housing advocates and residents said owners would often not “negotiate in good faith” as the law intended. Resident cooperatives simply didn’t have enough time to organize and obtain millions of dollars to complete complex real estate transactions, critics said.HB22-1287Crucially, the new law also gave residents additional avenues to help them purchase their parks. Resident groups could now assign their purchasing opportunity to a nonprofit or public entity to buy the community on their behalf.
Whitehaven residents had 90 days — a “ticking time bomb”, as Dombrowski called it, to match the buyer’s offer.Residents quickly formed a cooperative, with Dombrowski serving as its president. He hoped they could raise $10,000 or $20,000 from people in town. On Oct. 1, the new state law took effect, allowing Whitehaven residents to assign their purchasing power to the local housing authority. That gave Yampa Valley a right of first refusal — meaning that park owner must sell the park to the housing authority if they meet the purchasing offer.
“It’s a really good piece of legislation,” the housing director said. “It really puts communities in the driver’s seat of these negotiations. It allows you to create these opportunities where mobile homeowners can have security in their homes and control their future.”The Whitehaven sale was the first time mobile home residents in Colorado had assigned their purchasing power to a city.
“It’s really due to the new law,” Melgares said. “Without that, I do believe the residents would not have had success.” He and other residents are taking on extra shifts or finding second and third jobs to make ends meet.
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