What does the petition and disclosure statement mean? What protections are being waived?

That disclosure and that specific language is required by statute, the Map Act, (Gov Code Section 66428.1) and it actually contemplates a different situation than what is going on here.  The “protections” under the Map Act that the disclosure is aimed at are certain procedures that are intended to help avoid economic displacement of residents […]

Who will hold my $2,500?

McGovern Escrow Services, Inc. (Escrow Number 101213) will hold your funds until the National Cooperative Bank loan closes.

Who gets my $2,500?

Your $2,500 is deposited in your name in a licensed independent escrow company.

Why should I sign up for the co-op?

The answer is that a resident owned Park is the only way for residents to control their destiny as a mobile home park. An all-resident Board of Directors, voted in by the resident members, will make the best decisions to control costs, keep rent level stable, and keep the park open as a mobile home […]

Is membership in the Cooperative mandatory?

No. Becoming a member is voluntary. It is not mandatory for current residents to become cooperative members. However, if a nonmember household leaves the park in the future, and sells or moves their home, the new occupant must become a member.