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Catalyzing worker co-ops & the solidarity economy

Residents buy Durango mobile home park from corporate owners

Within days of receiving the sale notice, Hinkle contacted Thistle, a Boulder County housing nonprofit, for help.

The nonprofit is certified by ROC USA to help mobile home residents become resident-owned communities. It provides guidance and bundles together financing for residents seeking ownership. That move was critical to their success, residents said.

By January, about a month into their 90 days, River View residents formed a cooperative, required by Thistle to include at least 75% of River View’s about 116 households. More than 80% joined, Egan said. The residents in the group, mostly retirees, stepped into leadership roles on the board.

The residents adopted a set of interim bylaws, using a template provided by Thistle, and got a federal tax identification number. Thistle helped them secure financing from local and national lenders through ROC Capital, a community development financial institution that exclusively lends to similar communities seeking ownership.

By late February, with about a month left before their deadline, they were ready to submit an offer.

Read the rest at The Durango Herald

 

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