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FEBRUARY 2015 15 THE JOURNAL No. 11 on Get It Quick Page The RV/MH Heritage Foundation (Foun- dation) paid its debt to the Ingram Family Trust Fund this week and took a major step forward to meet its goal of being totally debt free in five years, according to Foundation Chairman and President Darryl Searer. Thanks to the generosity of the Ingram Fam- ily, the $2,910,769 debt was paid off with $1,937,665, saving the Foundation $973,104 off the principle and represents a donation from the Ingrams. Previously, the Ingram family of- fered the Foundation a matching funds program to forgive an additional 50% match off on all principal payments. In order to take advantage of this offer and pay off the Ingram family loan, the Foundation borrowed $1,921,000 from 1 st Source Bank in Elkhart which allowed the Foundation to save an additional $363,000 in interest over the life of the previous loan. Searer said, "This is a big milestone for the Foundation, and we owe a huge debt of grati- tude to the Ingram family. Adding this latest donation to their previous gifts and other matching funds contributions, the Ingrams have donated over $3 million, making them the Foundation's largest benefactor by far. "The Ingram family has gone above and be- yond in its support for the Foundation, and we can never thank them enough for all they have contributed. This is a great day for the Founda- tion and the Ingram family." The Foundation plans to pay off the bank loan through various fundraisers, such as the current Kevin Clayton Debt Elimination Challenge. This program challenges the manufactured housing industry to raise $1 million within five years. Since the program was launched five months ago, members of the manufactured housing in- dustry have committed to nearly $500,000 in donations and pledges. Searer said, "Paying off the Ingrams with a bank loan made good business sense. It not only saved the Foundation over $1.3 million in principal and interest, it allowed us to convert the loan to a regular mortgage with 1st Source Bank at a good interest rate with manageable payments. This makes life much simpler for the Foundation, and with the continued support from the manufactured housing and RV indus- tries I'm confident we can meet our goal of being debt free in less than five years." Call us for more information! 6676 GunPark Drive, Suite F • Boulder, Colorado 80301 (303) 530-1566 • Toll Free 1-800-843-3336 See Website for more info: www.everlock.com SYSTEMS Proud exhibitor at the Tunica Show since its inception! Please visit our booth (#35) for more information regarding our two new Insulated Skirting options - Thermal EverRock & Gorilla Thermal Skirting Panel NOW AVAILABLE NEW INSULATED SKIRTING from EVERLOCK SYSTEMS NEW INSULATED SKIRTING from EVERLOCK SYSTEMS of this maneuver when the prime contract was awarded to Savan, as bidders on federal contracts are routinely required to identify key sub- contractors in the event of an award. This "wink and nod" scenario – and the apparent circumven- tion of the 2000 reform law – is a matter of vital importance for both HUD Code manufacturers and consumers. First, the direct and central involvement of HUD's de facto sole-source monitoring contractor in the federal dispute resolution system would undermine the entire purpose of alternate dispute resolution, as industry members, and manufacturers in particular, would be understandably hesitant to submit disputes involving possible "defects" for investigation and resolution by HUD's regulatory contractor. Second, the direct and central involvement of the monitoring contractor in the DR pro- gram would undermine the credibility and (perceived or actual) objectivity of the DR process, insofar as the "monitoring" contractor, with its extensive role in HUD's system of expanded in-plant regulation, would likely have a built-in bias against manufacturers. Third, the direct and central involve- ment of the monitoring contractor in the federal DR system would transform that system into a de facto conduit to funnel information about "possible de- fects" into the Subpart I system, where that same contractor plays a central role and would derive even more revenue. Indeed, MHARR, anticipating such a scenario and the resulting overlap between DR and other aspects of the HUD regulatory system, warned against – and strongly opposed -- any such overlapping as an abuse of the DR system in its December 2005 com- ments to HUD on the then-pending federal DR rule. All of this cries out for a complete and independent investigation of the DR contract and IBTS subcontract, coupled with complete transparency by HUD, including the full public disclosure of all documents related to the so- licitation and award of both such contracts and the relationship between IBTS and Savan. In the meantime, activity under both of these contracts should be suspended. In MHARR's view, the HUD program bears responsibility for ensuring full compliance with all aspects of the 2000 reform law, including its clear, unambiguous and mandatory contracting requirements. Mark Weiss is President & CEO of the Manufactured Housing Association for Regulatory Reform. MHARR is a Washington, DC-based national trade association representing the views and interests of independent producers of federally-regulated manufactured housing. Mark can be reached at 202-783-4087. \ 12 T J RV/MH Heritage Foundation Retires Debt to Ingram Family Visit our website: www.journalmfdhousing.com