Mobile home park residents purchase property through co-op
Jan. 03, 2018
BERLIN, Vt. (AP) — Residents of a large Vermont mobile home park have purchased the property and will operate it as a cooperative.
The Times Argus reports members of Weston's Mobile Home Park in Berlin bought the property last week from Ellery Packard in a $2.1 million deal. Residents had voted unanimously to purchase the 83-lot park.
ROC USA Capital helped finance the property deal. Under the cooperative agreement, 50 residents of the park's homes have purchased $100 shares.
Since its establishment in 1968, Weston's had been privately owned. Packard purchased the park in 1994.
Cooperative board president Leandro Perojo says he wanted residents to be able to have more control. Twelve of Vermont's 241 mobile home parks are now cooperatively owned.
Information from: The Times Argus, http://www.timesargus.com/