About Resident Owned Communities
ROC (Resident Owned Communities) USA, a national 501(c)3, has converted 312 mobile home communities in 20 states to resident ownership, thus preserving affordability and promoting self-determination for more than 20,000 homes and $400 million in financing. ROC’s cooperative housing business model transitions mobile home communities (MHC’s) to resident-owned communities by providing financing and technical assistance so that the existing residents can acquire the mobile home park land from the owner and self-determine their future. In 2017 Thistle became a ROC Certified Technical Assistance Provider (CTAP) and we are actively seeking MHCs in Colorado to transition from private ownership to resident-owned communities.
Flow of the Deal
1st Membership Meeting
2nd - 4th Membership Meetings
Closing
-
Residents join new Co-Op (Cooperative)
-
Elect Co-Op Board of Directors
-
Empower Board of Directors to apply for financing, accept assignable purchase & sales agreement
-
Works on getting vendor bids for all contracted work: plowing, property and financial management, common area maintenance.
-
Researches all operating expenses
-
Applies for financing
-
Hires an Engineer to conduct property conditions assessment and environmental site assessment
-
Appraisal is ordered
-
Develops business plan
-
Committee Development
-
Property management plan development
-
Review Engineer's due diligence and available financing - vote to either proceed or stop the process
-
Adopt permanent community bylaws and rules
-
Adopt key policies - code of ethics, procurement, and conflict of interest
-
Occupancy agreement review/execution/prepare for closing
-
Approve budget, rent amount, and 10 year CIP
-
Celebrate and begin to run a well operating business
If you are a mobile home community resident interested in purchasing your mobile home park, a public housing agency, a news reporter, or a mobile home community owner interested in selling your mobile home park then contact Tim Townsend, Program Director Thistle ROC, at 303.443.0007 or click here to email.
CONTACT INFORMATION FOR ROC USA
• Visit the website www.rocusa.org or call 603-513-2791
Why are Resident Owned Communities Important?
According to the 2022 ‘Out of Reach’ report published by the National Low Income Housing Coalition, Colorado ranks as the 8th most unaffordable state for housing.
Mobile Home Communities (MHCs) provide a significant source of market-rate affordable housing and help preserve community diversity in many categories, including race, ethnicity, age and familial status. They offer a housing option for underserved low- to-moderate income households. In Thistle’s Mapleton Mobile Home Park, lots are permanently affordable to households earning 30% AMI and 83% of lots are affordable to households earning up to 50% AMI.
Thistle helps MHCs preserve their homes and communities by helping the MHC become a Resident-Owned Community (ROCs). ROCs are MHCs where the residents themselves own and operate the community. They form a cooperative and manage it democratically, with each household having one vote. Since 2018, 8 ROCs have been formed in the state of Colorado preserving over 400 Homes.
Thistle is dedicated to preserving low-income MHCs to maintain diverse and inclusive communities.
Resident Owned Communities
Click to see where Thistle's ROCs are located!