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The proposed cooperative activity must:
- Help people with low and moderate incomes (per
standards set by the Dept. of Housing and Urban Development)
- Have a long-term benefit to people with low and moderate incomes
- Have a demonstrated source of income to repay the loan
to the Loan Fund
- Have community support
- Attract other resources to the effort
- Contact Peter Rhoads, Cooperative Assistance Team Program Manager at (603)224-6669, ext. 218 or at prhoads@theloanfund.org.
- Cooperative Assistance Team staff will meet with interested people to help them analyze whether cooperative ownership is viable, then help organize a cooperative.
- Each applicant cooperative submits a letter of request
to the Loan Fund, which is reviewed by Manufactured Housing Park Program staff and the
Loan Fund Loan
Review Committee, which consists of community representatives
from the areas of banking, real estate, business, housing,
law and related fields. There is no application form.
- Once a decision has been made, a staff member will contact the applicant with the decision and any conditions.
- If the request is denied, the applicant is informed why, and if possible, is encouraged to re-apply at a later date.
“The park is ours and we take pride in it,” says Peter Bartlett, resident of Pine Ridge Estates in Loudon, NH and member of the Freedom Hill Cooperative. (Click here to read more about Peter and the Freedom Hill Cooperative).
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