In 2009 LEAF, collaborating with other lenders, provided financing that enabled 86 families of the Pasadena Trails manufactured home park to purchase the land where their manufactured homes were located.
Because each resident now owns a share in the cooperative that owns the land underneath their manufactured home, they have control over how the park is managed and run. This provides a number of benefits to residents including:
- Peace of mind knowing that the park won’t be sold out from under them
- Ability to determine lot fees and park rules
- The power to vote to make improvements in the park, like building a playground for community children
- The opportunity to serve on the cooperative’s board of directors