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Preserving Manufactured Home Communities Matters National Housing Conference Portland, Oregon May 17, 2010

Paul Bradley, ROC USA, LLC

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Page 1: Paul Bradley, ROC USA, LLC

Preserving Manufactured Home Communities MattersNational Housing Conference

Portland, OregonMay 17, 2010

Page 2: Paul Bradley, ROC USA, LLC

US MHC Market• 50,000 MHC; • 2.7MM US

homeowners • Consolidation

underway since 1990s

• Largest source of unsubsidized affordable housing in the US

Page 3: Paul Bradley, ROC USA, LLC

Homeowners in MHC are at Risk

Vulnerable to:– Excessive rent

increases– Poor

infrastructure and maintenance

– Community closure and displacement

Page 4: Paul Bradley, ROC USA, LLC

Asset-building in self-help, sustainable communities

• Citizen-led• Land Security • Decent Home

Financing• Physical

Improvements• Weatherized

or Replaced

Page 5: Paul Bradley, ROC USA, LLC
Page 6: Paul Bradley, ROC USA, LLC

Resident-owned CommunitiesROC USA:• 15 MHC

preserved in 8 states in first 2 years

• 1084 homes• $34MM in

MHC deals closed

Page 7: Paul Bradley, ROC USA, LLC

Copyright 2008 ROC USA, LLC. 7

ROC USA™ Network Certified TA Providers

Market Areas: 34 States

Page 8: Paul Bradley, ROC USA, LLC
Page 9: Paul Bradley, ROC USA, LLC

ROC USA™ Capital• 4 loans for $11 million• 60 days or less to close• Loan Product - 105% LTV, 10

to 15 year terms• Small and Large MHCs - $1-

$10 Million• Risk mitigation for investors

through innovative participation loan model and on-going TA

• Certified CDFI 10/09

Page 10: Paul Bradley, ROC USA, LLC

Pattern of the “field”Before ROC USA:• Few isolated examples,

some at scale (FLA, VT & NH)

• Varied “entity” approaches

• Varied strategiesIn sum, non-standardized,

not scale-able, cottage industry

After ROC USA:• Formal NPO network

combining local know-how and a well-connected center

• Standardized approach• Common brandIn sum, a robust scale

initiative aimed at the multiple challenges R-O MHCs face

Page 11: Paul Bradley, ROC USA, LLC

On-line Resourceswww.rocusa.org

www.cfed.org

www.mhoaa.us

www.consumerlaw.org

www.factorybuilthousing.com