Mobile Home Park residents in Colorado make winning bid to buy land

In the tidy streets and mowed lawns of Meadowood Village Mobile Home Park, there is a new sense of pride. It's a David and Goliath story.

"We can't give up. We cannot give up. We have to get this accomplished," said Sandy Cook, who is now the operations manager of what they call the Meadowood Cooperative.

The cooperative formed when residents of the mobile home park learned that a Utah-based company, owner of dozens of mobile home parks, had offered to buy their 12.5 acres of land for $18 million. They feared the new owner would significantly raise their monthly rents.

"That was everyone's first reaction when the notices came. 'What am I going to do? Where do I go? I don't have anywhere to go,'" said Cooperative Vice President Sharry DiQuinzio.

Approximately 20% of the residents in this over-55 community live below the poverty line.

"They were all concerned. A lot of the people here are on social security. A lot of people are disabled. We have a lot of veterans. So they're on fixed incomes," Cook added.

Under Colorado law, residents can form a cooperative and have 120 days to make a bid to purchase the property themselves. But the idea of becoming their own landlords seemed daunting.

"Their first concern was 'what their rent would be? Can we afford to run the park? Are we going to be able to run the park?'" said Cook, who handled much of the financial planning.

In early meetings, they started to believe they could. It's a tight-knit community of approximately 120 residents who look out for one another.

"We immediately contacted the City of Littleton, started attending council meetings, and spoke with the mayor, city manager, Arapahoe County, the state, the Department of Local Affairs, and a Boulder-based organization to seek lines of credit, low-interest loans through HUD," said Cook.

They found surprising support.

"I think that gave us a bit of a boost in knowing that maybe we can do this. People care," she said.

Cook, who has a background in the trucking industry, credits her determination to overcoming past challenges.

"The challenges of being a woman in trucking starting in 1974, there weren't many of us. Because of that, you learn to stick up for yourself," she said.

"It's talking to anyone that will listen. Trying to get their attention and explaining our situation," DiQuinzio said.

She spent a lot of time on the phone looking for assistance and financing options. She found a lawyer willing to work pro bono to help.

In the end, the community made four offers, with the final one accepted by the current property owners, a California-based company. But more challenges remain.

The cooperative is now working to supplement their bid with grant money from nonprofits and foundations. They still need commitments for $4 million.

They've launched an online fundraising campaign, hoping to create a cooperative where all 92 unit residents have a say. The community often helps those at lower income levels apply for benefits like SNAP.

"This is a promise to the people who live here. And I want to keep that promise," said Cook.

She has spent many sleepless nights figuring out how to raise the money and keep rents affordable as they manage the property themselves.

One thing she believes is they outmaneuvered a company skilled at property acquisitions.

"It was a tough battle, in my opinion, to get us where we are," she said. "I can almost promise you they did not think that would happen."