A What Op?...Oh A Co-Op
By Joan Mirantz, Realtor, GRI, CBR, SRES - Concord New Hampshire
(Homequest Real Estate)
In 1983 a non-profit organization known as The New Hampshire Community Loan Fund was founded. Their goal was affordable loans and housing for low to moderate income citizens of NH. Their financing model was established in 1984 when the Sisters of Mercy loaned them $43,000 (at low interest). That money was loaned to 13 families in Meredith who lived in a manufactured housing park and wanted to purchase the park from its aging owners. This was the first NH Co-Op....one of many to come. They are now known as the Meredith Center Cooperative listen to their story! This milestone meant that the residents now owned the land beneath their homes, they controlled when and if they would move,their rates were stabilized and any sub-structure improvements built more equity in their homes. To date t...