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BRUNSWICK (WGME)-- For the first time, a new state law and funding are about to help a group of residents buy their mobile home park.
The Brunswick group is planning to close on the purchase in the coming weeks.
Blueberry Fields Cooperative Board President Janet Fournier says she learned from the owner of Linnhaven Mobile Home Center, around the time she moved in last August, that he was looking to sell the park.
"I immediately went into panic mode. I thought, 'What’s going to happen? What’s our future going to look like here?'” Fournier said.
Because of a law that went into effect in October, the owner was required to give formal notice...
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The seller is under no obligation, but in this particular case, the seller really did work with the residents, and it’s a pretty exciting outcome," MaineHousing Director Dan Brennan said.It's an exciting outcome with another historic first: the co-op is getting $3 million from the governor's supplemental budget to help close the sale.
Probable Translation: the residents paid $3 million more than the park appraised for and the Governor had to kick in $3 million to close the deal. I think we all know that. Just wait until you see how high the lot rents now have to go to cover the mortgage and the tenant’s inability to manage it properly. My bet is that it will be back on the market in 5 years or less. Maine can’t even get L.L. Bean right anymore (they’re no longer open 24 hours).