Promoting Resident Ownership of Manufactured Home Communities Act

Resident Opportunity to Purchase: The bill establishes model law criteria that require community owners to provide written notice of a sale or transfer, including price and terms, allowing residents a chance to purchase the community (Section 2, subsection e, paragraph 1 and 2).

Protection Against Unfair Sales: Under the model law, if a resident group presents a purchase agreement matching the owner's accepted offer, the owner must sell to them. If the terms differ, the owner is required to negotiate in good faith (Section 2, subsection e, paragraph 3).

Financial Flexibility for Buyers: The bill ensures that a community owner cannot reject a purchase agreement just because it includes a financing contingency (Section 2, subsection e, paragraph 4).

Empowerment of Resident Groups: Residents are granted the right to meet, form associations, use common areas for meetings, and circulate documents without fear of retaliation (Section 2, subsection e, paragraph 8).

Infrastructure and Land Support: Grant funds can be used to cover at least 25 percent of land and site acquisition and infrastructure for manufactured housing communities owned by eligible owners (Section 2, subsection c, paragraph 1).

Waiver of Regulations: The Secretary has the authority to waive or change various requirements and regulations related to the use of grant funds, provided they are not related to fair housing, nondiscrimination, labor standards, the environment, or benefits for low- and moderate-income persons (Section 2, subsection d).

Exemptions to Purchase Rights: Certain transfers of manufactured housing communities are exempt from the model law requirements, such as transfers to a community owner's family members, transfers by gift or devise, or transfers by business entities to subsidiaries or affiliates (Section 2, subsection e, paragraph 9).