1. Best Practices in Public Policy
Anju Chopra, CFED (moderator)
Peter Hainley, CASA Oregon
Wendy Sullivan, Grounded Solutions
Greg Sparks, Rural LISC

2. CFED – Manufactured Housing Best Practices In Public Policy

3. Mission Statement Rural LISC believes in rural America.
We are committed to providing support for our communities, making them good places to live, work, do business and raise children. We believe that nonprofit community organizations play an essential role in achieving this mission. Rural LISC is dedicated to building the capacity of these groups and increasing their production, by generating resources and investing in their work.

4. Why Rural?
Rural America is the primary source of the nation’s food, water, fuel and recreation.
Almost 75 percent of America’s land mass is rural.
Over 46 million people live in rural America. Veterans make up 25 percent of the rural population.
Three out of five “boomers” say their idea of a perfect retirement location is a small town or rural area.
USDA Economic Research Service – 2013

5. Rural Challenges Lack of quality and affordable housing options
Shrinking access to health care and medical facilities
Struggling economies with limited job opportunities and limited quality education for all ages
Lack of access to technology

6. About Us / What We Do Established in 1995 Program of LISC
Equip rural areas with capital, strategy and know-how
Help preserve and strengthen rural life
Provide a supportive network that connects community-based groups to each other

7. Building Sustainable Communities
Unique
Model
Building Sustainable Communities
Expands investment in housing and real estate
Stimulates economic development
Improves access to quality education
Supports healthy environments and lifestyles
Increases family income and wealth

8. Service Area Portland, ME Davis, CA Washington, DC Fowler, CO
Greenville, MS

9. By the Numbers What We've Invested What We've Accomplished
(Since 1995)
What We've Invested
$2.45 billion which has leveraged nearly
$3.5 billion in total development.
What We've Accomplished
29,825 affordable homes
3.3 million square feet of commercial, industrial and community facilities
580 businesses assisted

10. California Mobile Home Park Rehab & Resident Ownership Program (MHPRROP)
Purchase
Acquisition
Relocation
Infrastructure upgrade
Rehab of homes

11. Ownership Entity Resident Controlled Qualified Nonprofit Sponsor
Two-thirds residents of mobile homes
Local Public Entity
City/ County/ Housing Authority

12. Loans Maximum Loan $3.5m 50% Cost Attributable to Low Income
Maximum Loan
$3.5m
50% Cost Attributable to Low Income
(Purchase Price) $5m X 50% (max. loan) X 45% (low income) = $1.125m) = $1.125m

13. Loans, Cont. Park Acquisition Rehab of Homes Bridge 3% 3 years
Perm 3% 40 years
Rehab of Homes
3% 40 years

14. Nonprofits Hesitant to Step In or Step Up
Due diligence costs money
Few groups have technical expertise to take predevelopment risk
Need to Modify MHPRROP to finance TA for preservation
Need to Modify MHPRROP to grant finance predevelopment
Need to increase $3.5 funding cap per development

15. Good Practice, But Not the Best Practice – A Work in Progress
No Demand for over-the-counter NOFA of $11m
Problems
Purchase price of parks based on revenue (Cash Cows for Investors)
Need for incentives – Carrots or Sticks
Legal Proceedings and Receiverships
Tax incentive to sell to residents
Finding the unique sellers

16. Problems, Cont. Nonprofits hesitant to step in or step up
Due Diligence cost money
Few groups have technical expertise to take predevelopment risk
Need to Modify MHPRROP to finance TA for preservation
Need to Modify MHPRROP to grant finance predevelopment
Need to increase $3.5 funding cap per development

17. Envision the Possibilities Learn More
Rural LISC 402 US Hwy 50 W, Fowler, CO 81039
1825 K St NW, Suite 1100, Washington, DC 20006
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