Funding Sources for Mobile Home Park Preservation

Note: This list is not exhaustive. Sources are based on funding from survey respondents.

State of Colorado

The following state agencies have grant and loan products that can be used in the acquisition and preservation of mobile home communities. These are funded through various sources, including but not limited to Housing Development Grant, Proposition 123, and pass-through Federal funds.

  • Department of Local Affairs (DOLA)
  • Colorado Housing and Finance Authority (CHFA)

Federal Government

  • United States Department of Agriculture (USDA) – Funds infrastructure improvements for mobile home parks.
  • Community Development Block Grant Program – Funding is distributed by local jurisdictions. Funds must be used to benefit people whose income is at or below 80% of AMI (Area Median Income).
  • Department of Housing and Urban Development (HUD) – Offered in 2024, Preservation & Reinvestment Initiative for Community Enhancement (PRICE) grants are available to local governments, nonprofits, CDFIs, and resident cooperatives to preserve and revitalize manufactured housing communities.

Other Financing Institutions

  • Colorado Health Foundation – A private nonprofit that works to support health equity and racial justice in Colorado by investing in nonprofits, communities, and the public and private sectors.)
  • Community Development Financial Institutions (CDFIs) – Banks, credit unions, loan funds, etc., that have been certified by the federal government to provide funding to low-income communities, particularly through lower interest than market rate loans.)
  • Local Jurisdictions – Cities, counties, Native American reservations
  • Nonprofit Organizations – These sources are most likely housing alliances and coalitions, which may or may not be directly affiliated with local governments. Some nonprofit organizations have been formed solely to represent mobile home park preservation efforts. Other nonprofits, such as cooperative development centers, support MHP conversions through
    various forms of technical assistance, although are not involved in their direct funding.
  • Community Land Trusts – A community land trust [CLT] is a nonprofit organization that owns land and leases it to provide affordable housing, community gardens, civic buildings,
    commercial spaces, and other community assets. CLTs are usually managed by a nonprofit or quasi-governmental organization. CLTs are governed by a board of CLT residents, community residents, and public representatives who develop housing and other assets that are owned and controlled by the community. Community land trusts differ from other mobile home park preservation models. Most CLTs don’t deal in mobile home parks, but in traditional housing. In a CLT housing project, the land is owned by the community and held in trust permanently. This restrict future sales prices to ensure affordability. Homes are owned by individual households with incomes at or below 80% of Area Median Income. A 99-year renewable ground lease gives homeowners rights and responsibilities. This model has a resale formula built into it that supports permanent affordability through a shared appreciation model; homeowners who sell their homes can receive up to 25% gain of the market appreciation and must sell to an income-qualified household.
  • ROC USA – ROC USA is a national nonprofit organization that works to help mobile home park residents purchase their parks and govern themselves. ROC USA works with regional nonprofit technical assistance affiliates and ROC’s own lending subsidiary, ROC USA Capital. The regional representative for ROC USA in Colorado is Thistle Community Housing. ROC has its own criteria for what size and types of parks it is able to assist.