Agenda Date: 10/21/2025
Subject:
Title
Resolution 114-2025: Approving a funding request for Meadowood Cooperative
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Kathleen Osher, Deputy City Manager
Julie Latham, Housing Policy Analyst
Presentations:
N/A
PURPOSE:
Consideration of a funding request from the Meadowood Cooperative in support of the resident purchase of their manufactured home community.
LONG-TERM OUTCOME(S) SERVED:
Robust and Resilient Economy
DISCUSSION:
Meadowood Village residents successfully purchased their 92-home manufactured home park in early 2025, forming the Meadowood Cooperative to prevent a corporate buyout and preserve long-term affordability for residents. The cooperative secured over $18 million in financing through a combination of state loans, county and city contributions, mission-driven lenders, and philanthropic grants. The cooperative is now seeking funding to help cover the unanticipated interest costs incurred from a high interest loan necessitated by a delay in state fund disbursement.
BACKGROUND:
In early 2024 the city received a notice of intent to sell for Meadowood Village, pursuant to Colorado's Mobile Home Park Oversight Program. In response to the potential sale, Meadowood residents organized to form the Meadowood Cooperative with the goal of purchasing the property collectively. The City of Littleton contributed $200k in refundable earnest money and approximately $50k for inspection and legal expenses, helping unlock additional time for Meadowood to source funding for the park purchase. Meadowood successfully secured financing and closed on the property January 2025. Their purchase of the park ensures community stability and affordable housing preservation for decades to come, as the financing includes requirements for formal affordability provisions for thirty years.
Meadowood was awarded a $3.475M low-interest loan from the Department of Local Affairs (DOLA) via programs created by Proposit...
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