Donna Talarski
This article may have already appeared on this page, but I thought it might me worth printing again.
From small seeds grow great trees. From seeds of hope comes great promise! !
Springlake Mobile Home Park is now owned by its residents. During the Annual Conference, held in Eugene, a complete summary of the park purchase was given by the residents, and Dean Sargent and Tony Woller, both from PMC Financial Services. PMC was instrumental in providing both financial and legal guidance during the negotiations and finalization of the purchase.
For those of you who have attended the annual seminars you will remember Dean Sargent, who has previously given a presentation on park purchasing. He, and the organization that he is associated with, PMC Financial Services, were instrumental in bringing about this development. While the paper work of such an endeavor can be almost overwhelming the residents of Springlake worked diligently with PMC Financial Services to achieve their goal.
Dean also credited OSTA for their participation in the purchase. He pointed out that OSTA, through the efforts of Pat Schwoch, were instrumental in obtaining "bridge financing" from Housing and Community Services.
A number of preliminary steps are essential to residents, who reside in a manufactured home park and want to be considered as potential buyers for the park.
First and foremost the Oregon State Statutes specifies, in ORS Title 10, Chapter 90, 90.815, that "A facility purchase association shall comply with the provisions of ORS chapters 60, 62 and 65 before making the offer provided under ORS 90.820." Very simply put this means that residents, in a manufactured home park, must form a non-profit corporation in order to be eligible for participation in a park purchase plan. There are also other requirements that must be met, by the residents, to be eligibile to purchase their park.
PMC Financial Services offers the necessary expertise and guidance for those interested in pursuing a park purchase and Dean Sargent is more than glad to discuss the program with residents.Click here for additional information
No comments:
Post a Comment