The 32-homesite Ladd Hill Mobile Home Park just became the 118^th manufactured home community (MHC) in New Hampshire to convert from privately owned to resident-owned, as citizen informs MHProNews. Now called Ladd Hill Cooperative, Inc., the Belmont, NH community deal was finalized March 1, and the purchase price of $525,000 was financed with a mortgage through the New Hampshire Community Loan Fund’s ROC-NH™ program.

When residents Everett and Pat Palmer heard their community was to be sold and they might lose their home, they contacted the Community Loan Fund (CLF) and started the ball rolling toward the resident-owned community (roc) Ladd Hill has become.

In addition to finding funding, CLF provides advice on leadership, structure of the organization and training to operate the community. The fund assisted homeowners convert the first community in Meredith, NH in 1984, and since then has helped 118 communities become resident-owned comprising more then 6,500 homes.

Everett Palmer said: “It’s a relief to know we own the community, and that our investment and all that we’ve worked for is protected. This whole process has brought our park together. We’ve become closer to our neighbors, and met the ones we didn’t know.” ##