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Residents of another of the Roaring Fork Valley’s largest mobile home parks (MHPs) are on the verge of achieving something that seemed impossible four months ago.
With word coming June 10 that the Colorado Health Foundation awarded a $4.5 million grant toward the $25 million effort to purchase the 98-home Cavern Springs Mobile Home Park, the residents’ cooperative, organized as the Sopris Mountain Collective, were able to beat a June 13 deadline to make an offer on the property.
The grant brings the total subsidy raised to $11.1 million, just $1.9 million shy of the $13 million necessary to supplement a $12 million loan that the residents...
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Despite all the handouts, the residents are still $1.9 million short of having the cash for the down payment. They might want to hold back their celebration until that money’s in the bank. Rule number one of buying mobile home parks is that the deal isn’t done until the closing is over.