CA AB225

Renamed the Mobilehome Park Purchase Fund to the Mobilehome Park Rehabilitation and Purchase Fund and expanded its purposes to include repairs and accessibility upgrades to mobilehomes.

Authorized loans to qualified nonprofit housing sponsors and local public entities to acquire mobilehome parks where at least 30 percent of residents are low-income and significant health/safety violations exist or substantial benefit to lower-income homeowners would result.

Required local public entities acquiring parks with fund loans to transfer ownership to a qualified nonprofit or resident organization within three years, with an option for one three-year extension upon good faith effort demonstration.

Authorized loans to resident organizations and qualified nonprofits to assist lower-income homeowners with needed repairs and accessibility-related upgrades to mobilehomes.

Established criteria for department consideration when determining loan eligibility and amounts, including current health and safety conditions, benefit to lower-income residents, and park infrastructure age.