Mobilehome Park Rehabilitation and Resident Ownership Program (MPRROP)

Portal ID:
2118
Status:
Closed (3 total applications submitted)
Opportunity Type:
  • Loan
Last Updated:
 | 

Details

Purpose:

Funds for conversion, acquisition and/or rehabilitation of existing mobilehome parks in order to preserve them as a source of affordable housing and to assist park residents with needed repairs, accessibility upgrades or replacement of mobilehomes.  

Description:

Short-term conversion loans at up to three percent simple annual interest for up to three years to enable a resident organization, nonprofit sponsor, or local public agency to purchase a mobilehome park.

Long-term blanket loans at up to three percent simple annual interest for up to 40 years for long-term financing of a park purchase, or for a resident organization, nonprofit or local public agency that has purchased a park to help low-income residents finance the purchase of shares or spaces in the park or to help pay for the cost to repair low-income residents’ mobilehomes.  Payments of conversion and blanket loans can be deferred or adjusted if necessary to make the purchase feasible.

Long-term individual loans at up to three percent simple annual interest to low-income residents of a mobilehome park that has been converted to ensure housing affordability when the resident buys a cooperative interest, a share, a planned unit development space, or a condominium space in the park.

Each funding cycle includes a rural set-aside of funds of at least 20 percent.

Eligibility Requirements

Eligible Applicants:

  • Nonprofit
  • Public Agency

Eligible applicants must be resident organizations, qualified nonprofit housing sponsors, or local public entities.  Please note,individuals/residents are ineligible to receive direct funding from HCD through this NOFA. Once these funds are awarded, qualified low-income individuals/residents may apply directly to an MPRROP program recipient.

Important Dates

Application deadline The date (and time, where applicable) by which all applications must be submitted to the grantor.
Expected award announcement The date on which the grantor expects to announce the recipient(s) of the grant.
Applications accepted over-the-counter through 1/6/2021. Awards will be made on a rolling basis.
Period of performance The length of time during which the grant money must be utilized.
Refer to Program Guidelines/Regulations and/or Notice of Funding Availability

Funding Details

Total estimated available funding The total projected dollar amount of the grant.
$34,000,000
Expected number of awards A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Estimated amount per award Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
Dependent
Letter of Intent Required? Certain grants require that the recipient(s) provide a letter of intent.
No
Requires Matched Funding? Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
Funding Source: The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • State
Funding Method: The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources