Mobilehome Park Rehabilitation and Resident Ownership Program (MPRROP)

Short-term conversion loans at up to three percent simple annual interest for up to three years to enable a resident organization, nonprofit sponsor, or local public agency to purchase a mobilehome park. Long-term blanket loans at up to three percent simple annual interest for up to 40 years for long-term financing of a park purchase, or for a resident organization, nonprofit or local public agency that has purchased a park to help low-income residents finance the purchase of shares or spaces in the park or to help pay for the cost to repair low-income residents’ mobilehomes. Payments of conversion and blanket loans can be deferred or adjusted if necessary to make the purchase feasible. Long-term individual loans at up to three percent simple annual interest to low-income residents of a mobilehome park that has been converted to ensure housing affordability when the resident buys a cooperative interest, a share, a planned unit development space, or a condominium space in the park. Each funding cycle includes a rural set-aside of funds of at least 20 percent.

Eligibility

• Programs related to housing

Award details

Applications close on January 6, 2021.

Categories

Community Economic · Housing