NeighborWorks Capital funded a $2,000,000 revolving line of credit with CASA of Oregon in December. This loan will provide CASA with additional capital for their Manufactured Housing Park Preservation Loan. CASA provides financial and technical assistance to residents of manufactured housing parks (MHPs) and help organize resident cooperatives to take on park ownership. This assistance includes helping the co-op negotiate with the park owner, securing public financing from public and private sources, closing the financing, and setting up the cooperative management structure. This loan will allow CASA to stretch their own funds further in assisting MHPs.
NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta, a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.