Add Parkland Estates Cooperative, Inc. of Litchfield, New Hampshire as the state’s 114^th resident-owned community, according to Steve Varnum of the New Hampshire Community Loan Fund. What had been Hillsboro II Mobile Home Park became Parkland Estates June 26, 2015 when the residents of the 33 home site community negotiated with owner THR Corp. for the purchase price of $1,327,500 and received financing from the Community Loan Fund and Franklin Savings Bank.

“Residents have been interested in purchasing the park for over 20 years,” said Parkland Estates President Gerry Arsenault. “We’re happy to finally purchase the park and preserve our homes for the future.” Homeowners are now eligible for mortgages and equity loans since they own the land under their homes.

The Community Loan Fund assisted in converting the first manufactured home community in New Hampshire to resident-owned in Meredith in 1984, and has since developed a series of strategies and support services to facilitate the transition, as MHProNews has learned.

The New Hampshire Community Loan Fund was established in 1983 and collaborates with a wide range of private donors, lenders, businesses, nonprofit and government partners to create opportunity and further financial independence. ##

(Photo credit: ROC USA)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.