David Kirsch: SB-210 is a threat to local economy and affordable housing

To The Daily Sun, 

There is an old saying, “Don’t fix what ain’t broke”. That’s especially true when the fix not only doesn’t improve the situation but actually damages it. That’s what SB 210 does to the law that has enabled residents of manufactured home parks form cooperatives and purchase their park before out of state investors swoop in and price people out of their homes.

What SB 210 effectively does is block the formation of cooperatives that would buy their park. When residents form a cooperative they keep rents low and stabilize housing so it remains affordable. Lower rents means more money to use in their local economies. Investor owners generally do less maintenance and improvements, depriving local businesses and contractors who provide these services.

Home ownership is part of the American Dream. But for many this has become only a dream. Home prices have soared pushing many out of the market. The availability of affordable housing is at an all-time low and even renting an apartment is less affordable. This contributes to a growing homeless crisis and the burdens to our cities and towns that come with it. One solution is manufactured homes in parks where the resident owns their home and the pride that comes with ownership and rents the land it sits on. The mortgage is affordable since it’s only for the home and rents have historically been low. However with rising home prices these parks are being eyed by investors who see dollar signs and easy profits. They want to come in and raise rents. This will drive many low and fixed income residents out of their homes as they become unaffordable.

I serve on the board of a cooperative that has already purchased our park. We are keeping rents low and have hired local companies to address maintenance needs. We are working to improve the condition of the park to attract new people who will participate in the local economy. The prior owners did none of this except when absolutely necessary. Their incentive was maximizing profits. A cooperative is a not-for-profit company with no profit motive. When something is broken, we will get it fixed. When something can be done to improve the community, we will do it. It’s hard work but we are motivated because no one is more invested in our success than we are.

SB 210 will make it impossible for cooperatives such as mine to form. And in the absence of that what we’ll have is out of state investors come in to milk the local economy for every cent of profit it can squeeze out of it. The existing law not only serves the residents of these parks, but the local businesses who depend on the revenue generated by them. I urge all who live in these parks and the local businesses who serve them to speak up and call your local senators and state representatives to oppose SB 210. Together we can make sure the New Hampshire Senate doesn’t fix what ain’t broke.

David Kirsch

Hill