Washington § 59.22.032 Loans for mobile home park conversion costs—Resident eligibility—Flexible repayment terms.

Washington Statutes

§ 59.22.032 — Loans for mobile home park conversion costs—Resident eligibility—Flexible repayment terms.

Washington § 59.22.032

Title 59LANDLORD AND TENANT

Ch. 59.22OFFICE OF MOBILE/MANUFACTURED HOME RELOCATION ASSISTANCE—RESIDENT-OWNED MOBILE HOME PARKS

This text of Washington § 59.22.032 (Loans for mobile home park conversion costs—Resident eligibility—Flexible repayment terms.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 59.22.032 (2026).

Text

(1)The department may make loans to resident organizations for the purpose of financing mobile home park conversion costs. The department may only make loans to resident organizations of mobile home parks where a significant portion of the residents are low-income or infirm.

(2)The department may make loans to low-income residents of mobile home parks converted to resident ownership or which plan to convert to resident ownership. The purpose of providing loans under this subsection is to reduce the monthly housing costs for low-income residents to an affordable level. The department may establish flexible repayment terms for loans provided under this subsection if the terms are necessary to reduce the monthly housing costs for low-income residents to an affordable level, and do not repr

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(1) The department may make loans to resident organizations for the purpose of financing mobile home park conversion costs. The department may only make loans to resident organizations of mobile home parks where a significant portion of the residents are low-income or infirm.

(2) The department may make loans to low-income residents of mobile home parks converted to resident ownership or which plan to convert to resident ownership. The purpose of providing loans under this subsection is to reduce the monthly housing costs for low-income residents to an affordable level. The department may establish flexible repayment terms for loans provided under this subsection if the terms are necessary to reduce the monthly housing costs for low-income residents to an affordable level, and do not represent an unacceptable risk. Flexible repayment terms may include, but are not limited to, graduated payment schedules with negative amortization.

Effective date — 2012 c 198: See note following RCW 70A.15.5110 .