§ 1120. Statement of legislative intent. The legislature hereby finds
and declares that the shortage of decent affordable housing for persons
of low and moderate income remains significant and must be addressed in
new and innovative ways; that a particular housing problem exists for
homeowners residing in manufactured home parks, wherein there is the
potential for serious dislocation of families and loss of equity through
the sale of manufactured home parks to interests not conducive to
continuation of park settings for these manufactured homes; that
manufactured home park residents frequently lack the resources to
purchase new homes or move existing homes; that an innovative and cost
effective solution to the problem of dislocation of manufactured home
park families is the formation of park cooperatives in which the
manufactured home park is owned cooperatively by the manufactured home
owners who reside therein; that a significant public purpose may be
served by assisting these homeowners in the formation of manufactured
home park cooperatives, such purpose being a reduction in the cost of
safe and sanitary housing for persons of low and moderate income; that
manufactured home park cooperatives should be assisted through public
support for infrastructure improvements; that it is the policy of the
state to create such housing cooperative opportunities and to provide
for the aid, care, and support of the needy in a manner that encourages
self-sufficiency and self-determination. The legislature therefore finds
that a program should be established to provide monies for land
acquisition by manufactured home park cooperatives and for improvements
to the infrastructures of such manufactured home parks.