HUD extends deadline for manufactured housing grants – apply by July 10

PRICE grants will invest $225 million to preserve manufactured home communities, including those organized as resident-owned communities like Park Plaza Cooperative in Fridley, Minnesota.

The Department of Housing and Urban Development (HUD) announced they are extending the application deadline for Preservation and Reinvestment Initiative for Community Enhancement (PRICE) grants.

As the first federal programmatic investment in manufactured home communities (MHCs), PRICE grants will invest $225 million for the preservation and revitalization of MHCs, including those organized cooperatively as resident-owned communities (ROCs). The Price Act is currently a one-time funding opportunity authorized in the FY 2023 Appropriations Omnibus to fund the federal government.

Eligible applicants, including cooperatives, nonprofit entities (or a consortia of nonprofit entities) and Community Development Financial Institutions (CDFIs) must SUBMIT AN APPLICATION BY 11:59 EDT ON JULY 10, 2024.

Learn how the PRICE Fund can benefit co-ops

Legislation Introduced to Support Resident Owned Communities and Co-ops

On June 20, Senators Jeanne Shaheen (NH-D), Jon Tester (MT-D), and Richard Blumenthal (D-CT) introduced the Manufactured Housing Community Sustainability Act (S.4584) to provide a tax credit for manufactured housing park owners to sell their land to residents for the purpose of forming a cooperatively governed ROC. The bill recognizes the role of limited equity cooperatives in providing permanently affordable housing and building wealth in low-income communities as a long-term solution to the housing crisis.

Senators Catherine Cortez-Masto, Tina Smith, Shaheen and Tester previously introduced the PRICE Act (S. 3264), which would make the PRICE Fund program permanent. It is currently a pilot program.

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