Forming a cooperative, they submitted an $8 million bid to buy the land to prevent a corporate sale. Now, they need to raise the money.
BANGOR, Maine — Residents of Cedar Falls Mobile Home Park in Bangor are coming together to try to secure ownership of their community.
Forming a cooperative, they successfully submitted an $8 million bid to buy the land to prevent a corporate sale.
A new Maine law requires mobile home park owners to give residents 60 days notice before selling. During that time, residents have the chance to make an offer to buy the property if more than 50% of them agree to do so.
The law aims to help homeowners avoid potential lot rent increases from corporate buyers.
“We’re on our road to success of owning our park,” Ronnie Pinkham, president of the Cedar Falls Resident Cooperative, said.
Pinkham, a 12-year resident of Cedar Falls, and her neighbor, Al MacNevin, treasurer of the cooperative, are …