According to realestaterama.com, three manufactured housing communities in Moses Lake, Washington all become resident-owned communities, each governed by its own democratically-elected representatives. The 113 homesites comprising Lakeview Terrace, Ponderosa and Cascade Village were part of a portfolio owned by Cascade Communities, Ltd., with $3.3 million financing for the co-ops provided by ROC USA® Capital, Mercy Loan Fund and the Washington State Housing Finance Commission. Northwest Cooperative Development Center of Olympia will provide guidance and technical assistance to the organizations for the length of the mortgage, at least ten years. The ROC (resident-owned communities) USA and Mercy Loan Fund financing was made available via a JPMorgan Chase Foundation’s CDFI (Community Development Financial Institution) Collaborative program. As Janis Bowdler of JPMorgan Chase tells MHProNews, “Manufactured housing is a critical source of affordable housing that is often overlooked. JPMorgan Chase’s investment is helping ROC USA address the tough development challenges in this sector.” ##

(Photo credit: C.J. Harris/eastoregonian.com–Bella Vista Estates co-op)