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Washington State Housing Finance Commission... opening doors to a better life

Opening doors to a better life...

My View from Kim Herman, Executive Director

 JUNE | 2007

Kim Herman


A unique, “inside” perspective on housing and community development from the executive director of the Washington State Housing Finance Commission.

JUNE 2007  | PRINT THIS ISSUE (PDF) | CURRENT ISSUE | ARCHIVE

 

Preserving Our Manufactured Housing Communities

PRESERVATION EFFORTS | KEYS TO SUCCESS | TWO PERSONAL STORIES

Kingsbury East residents

94 homes saved (photo at right): Kingsbury East residents Ned Collingridge, Gene DeWitte, and SOS board member Jo Parkening show their appreciation for Housing Authority of Snohomish County (HASCO).

 

KEYS TO SUCCESS

HASCO’s Bob Davis points to three factors that made the Kingsbury East and Squire parks’ preservation a success.

First, you need a willing seller. Bob hails developer Michael Echelbarger’s cooperative attitude. “If you don’t have a willing seller,” says Bob, “it’s not going to happen. On the policy side, you have people who tell folks either that they can prevent landlords from redeveloping their parks through state law or through local zoning. It’s not true.”

Second, the right strategy is important. Bob says, “My perspective, developed over 20 years, is that you either take the communities into nonprofit ownership—either coop, nonprofit, or public agency—or they go away.” Once the property is publicly owned, it’s important to take steps to preserve the affordability. Otherwise, the housing can lose its affordability through resale when the new owners pay the increased market price.

Finally, the residents have to show commitment. The residents at Kingsbury East and Squire were a remarkably cohesive group. They showed government officials that preserving their homes was something they really wanted. “At every point,” Bob recalls, “the residents were so motivated, cohesive, and articulate, that everybody who met them was impressed and moved to want to preserve the communities for them.”

Significantly, the residents’ commitment went beyond gathering signatures and testifying to committees. “We required—and the homeowners executed—buyback agreements prior to closing,” Bob says. “They gave up any potential equity they would accrue in return for their parks being saved. This enables us to perpetuate the affordability as we go forward. It was a generous contribution on their part: They called it their legacy.”

 

PRESERVATION EFFORTS | KEYS TO SUCCESS | TWO PERSONAL STORIES



NEWSLETTER ARCHIVE

About Us

The Washington State Housing Finance Commission is a self-supporting agency that provides below-market financing to buy, build or preserve affordable housing and nonprofit capital facilities. The Commission builds partnerships with the private sector to raise capital needed to further these social and economic objectives at no cost to the taxpayers of Washington State.  For more information about the Commission and its work, visit www.wshfc.org or call 206-464-7139 or 1-800-767-HOME (4663) toll free in Washington State.

To be added or removed from the newsletter email list or to provide us with story ideas, questions, and comments, please email EDNewsletter@wshfc.org or contact Bill Wortley, Communications Manager, 206.287.4409, Washington State Housing Finance Commission.