The homeowners in Pine Gate Village Mobile Home Park recently purchased their 34-unit manufactured-home park, making it New Hampshire’s 144th resident-owned community (ROC).
Pine Gate Cooperative becomes Grafton County's 15th ROC. Those communities contain 477 affordable homes.
Using training and technical assistance from the New Hampshire Community Loan Fund’s ROC-NH™ team, homeowners organized and formed the cooperative in 2018. Negotiations with the park’s owner reached a $650,000 purchase price. The co-op finalized the deal Aug. 30 with a mortgage from the Community Loan Fund.
Pine Gate Co-op President Carolyn Adams and Vice President Marjorie Noseworthy, board members since negotiations to buy the park began in 2018, kept hoping an agreement could be reached.
“It is a relief that we now have more control of our community,” said Noseworthy.
“This has been a long time coming,” said Adams.
For 39 years, the Community Loan Fund has worked in towns and cities across N.H. to connect people, families and business owners with the loans, training, and advice that allow them to have affordable homes, secure jobs and quality child care, and become more economically stable.
The nearly 8.700 homeowners in N.H.’s ROCs have access to fair home financing, as well as management guidance and an annual leadership training in which they earn college credit.
Pictured from left, Pine Gate Cooperative Vice President Marjorie Noseworthy, President Carolyn Adams, Treasurer Andrea Charbonneau, and Secretary Morgan Maxner-Greene.
A full list of ROCs in New Hampshire is available at http://www.communityloanfund.org/how-we-help/roc-nh/nh-cooperatives.
For more information on the Community Loan Fund, go online to www.communityloanfund.org or call Director of Communications and Marketing Steve Varnum at (603) 856-0767.