School District may Lease Homesites in Manufactured Housing Community

Updating a story MHProNews posted June 12, 2013 regarding manufactured homes for teachers in housing-strapped Midland, Tex., the Midland Independent School District (MISD) trustees authorized up to $3.5 million to create a 70-unit temporary housing development. While the trustees originally thought they would have to develop infrastructure for the new manufactured homes, the owners of the recently renovated Stonegate Mobile Home Park contacted Superintendent Ryan Warren about leasing up to 100 home sites in the community that is currently vacant. If it is less expensive to site the homes in Stonegate, which already has utility hook-ups, as opposed to developing MISD property, the trustees may contract with the manufactured home community. MISD originally thought rent of $500 a month would be sufficient to recoup the expenditure of $32,000 per unit, but have now upped that figure to $750 a month. As mywettexas reports, with the buy-back option on the homes at 40-50 percent, the MISD hopes to regain their outlay in four years.

(Image credit: sfgate)

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