Sunday, July 31, 2011

Resident purchase of Manufactured Home Parks in Oceanside

Not widely known, but well-documented, supported by the U.S. Supreme Court, California Legislative Counsel, and State Attorney General, is a win-win-win-win solution for Oceanside's Affordable Manufactured Housing.

The Residents can own the land under their homes at a housing cost no more than what it is today. Compensation for the owner of the land "must equal fair market value of the owner's leased Fee interest", per the U.S. Supreme Court. No financing is required from the City of Oceanside. The Citizens/Voters will not have to bear the threatened, unnecessary litigation.

The homeowners will enjoy a stabilized housing cost, with conventional financing. Being forced to pay for the
150% Gorilla of sub-prime loans through a Bond issue is eliminated. The City can do away with the litigation cost associated with Rent Control. It, for all practical purposes, will disappear.

The land owner will receive far more than if the 'so-called' subdivision process if pursued. The City Resident/Voter can enjoy a local government functioning as it should. This is all public information that our "Mobile Home Owners Forum" has compiled over the years. Why isn't it being used?

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