KeyBank Joins Innovative Funding Pool Enabling Low-Income Colorado Homeowners In Mobile Home Parks To Capitalize On 2020 Community Purchase Law

Nine organizations have come together to create a financing vehicle that positions homeowners in Colorado manufactured home communities to successfully purchase their neighborhoods when they come up for sale.

ROC USA® Capital and Thistle Community Housing partnered with Colorado Housing and Finance Authority (CHFA), Colorado Health Foundation, Colorado Trust, Ally Bank, KeyBank, Mercy Community Capital, JPMorgan Chase and Thistle Community Housing to secure a $55 million capital pool last month. State law gives Colorado homeowners a short window to organize and secure financing to match a competing offer when their community is for sale.

“KeyBank is proud to help expand access for affordable housing for residents in Colorado”, said Brian Maddox, national leader of KeyBank’s Community Development Financial Institutions (CDFI) team. “Our $11 million investment is a part of our commitment to the communities we serve and builds on the success of our National Community Benefits Plan.”