The First 100

In 1984, 13 families in Meredith Center Trailer Park were about to lose their homes to a developer who wanted to buy the park and evict them. We helped the families form a cooperative, then loaned them the money to buy the park.

Some people thought this was risky business. After all, they said, families living in a trailer park would never be able to repay the loan. Even if the residents somehow made the payments, the critics said, they didn’t know anything about managing a business – they’d surely fumble it away.

The critics were wrong.

On February 10, 2012, Foxy Terrace Cooperative, with a loan and assistance from the Community Loan Fund, became the 100th resident-owned manufactured-housing community in NH.

Not one of the First 100 resident-owned communities has failed.

Each of these First 100 communities, even the largest, which are multi-million-dollar enterprises, are run democratically by their residents. Because the land containing the homes is cooperatively owned by the residents, they know it will not be sold. The residents decide when lot rents will increase, by how much, and how the money is used. They vote on community rules and on how they are enforced.

The cooperatives have proved that they are credit-worthy, and commercial banks now regularly join us in loaning to them. And, through ROC USA, the Community Loan Fund’s pioneering strategy and tools are now available to homeowners in 21 other states.

As we celebrate New Hampshire’s First 100 throughout 2012 and into 2013, we’ll share related news, videos and photos on this page. Please check back often!

Related news stories

ROC the Affordable Housing World!, Aspen Institute RuFES Action Alert, March 15, 2012

Derry mobile home park residents buy property, Derry News, Feb. 22, 2012

Editorial: Opportunity knocks on mobile home park doors, Derry News, Feb. 22, 2012

Derry park residents join forces, purchase property, Eagle-Tribune, Feb. 17, 2012