I am in the process of purchasing my first park. 65 spaces and has city services. The park is grandfathered in to the city but the city is requiring that we rezone in order to permit any new homes. Currently the park is operating at 80% occupancy so we feel comfortable negotiating with the city to rezone in accordanance with the SUP that we will submit.
Our operational plan is as follows:
- Rezone park to MHP zoning
- Implement new water line to meet city fire code with fire hydrants and 8" water main through property
- W.L. Will be built to city standards, pressure tested and turned over to city ownership in which they will then be in charge for ultility billing and maintenance of line for the life of the infrastructure. (will dedicate easement to city for this).
- Improve existing asphalt road and repair pot holes
- Implement park rules and regulations
- Conduct tree removal and pruining, will allow for additional lots to be established which will be accounted for in the site plan and SUP.
- All utilities will be become park tenants responsibility.
All in expected capital expenditure on improvements, currently slated at $350k.
Any advice on this plan and or past experiences would be much appreciated.
All the best,