Issue link: https://read.dmtmag.com/i/708576
AUGUST 2016 19 THE JOURNAL HUD Secretary Castro was challenged about HUD's new installation standards at a congres- sional hearing today. Speaking at the House Fi- nancial Services Committee, Representative Bruce Poliquin (R-ME) raised concerns to the Secretary about HUD's new interim guidance on frost-free foundations and frost-protected shallow foundations. MHI has been telling HUD that the guidance goes beyond what is re- quired in the minimum installation regulations since the new requirements came out in April. Rep. Poliquin explained to Secretary Castro that manufactured housing is critical to the sup- ply of affordable housing in Maine, where one in eight of his constituents reside in a manufac- tured home. He said, "You came out with new rules...telling our state how to deal with build- ing a frost free foundation...if I may Mr. Chairman, there's nobody in the country, other than the folks in the state of Maine, who knows winter [and] how to build a frost-free wall. I hope we can work such that our state regulators can continue to have the flexibility to do what the law says." MHI wants HUD to clarify questions regard- ing compliance with installation standards in freezing climates. Many MHI members have expressed concerns, including at the recent Summer meeting in Indianapolis, that the guid- ance represents a restriction of discretion gener- ally afforded by the HUD Code installation standard. The Code allows for other alternative methods that may or may not have the pre- scriptive requirements outlined in the interim guidance. Rep. Poliquin's line of questions helped to elevate the issue to the HUD Secretary, who agreed to work with him on the issue. As the only manufactured housing trade association advocating for the industry in Washington, DC on these issues, MHI has been working behind the scenes with Rep. Poliquin, the Financial Services Committee, and on Capitol Hill to el- evate concerns this interim guidance has posed and to protect the industry from such harmful regulations. If you have any questions, please contact MHI's Senior Vice President of Government Affairs and Chief Lobbyist, Dr. Lesli Gooch, at (703) 558-0660 or lgooch@mfghome.org. HomeCarePlus "The Perfect Addition to Your Home Sales" An Exclusive Warranty For: Manufactured/Modular/ Park Model Homes "A Complete Package Designed for Today's Homes" HomeCarePlus A Warranty Program designed to eliminate Costly Repair Expenses on: Structure, Electrical, Plumbing, Heating, A/C & Appliances HomeCarePlus (800) 851-3738 Office (651) 458-2905 Fax diversifiedprofits@comcast.net No. 11 on Get It Quick Page Problems With New HUD Installation Requirements Raised at Congressional Hearing RV/Mfd. Home Community Financed by Monroe & Giordano Monroe & Giordano, a Tampa based Mortgage Company, arranged through its national lending sources, a permanent loan of $4,900,000 on an age restricted Central Florida RV/Manufactured Home Community. Lakemont Ridge in Frost- proof, Florida contains 130 MHC sites and 323 RV sites. The non recourse loan had an interest rate of 3.69% with a 10 year term amortized over 30 years. This is the second time M&G financed this community with their long term client. The 56 acre retiree community was first built in 1978 with many subsequent phases. Nearby at- tractions include Sebring International Raceway. Below is a description of the improvements and amenities: Lakemont Ridge offers 130 manufactured home sites with a swimming pool, shuffleboard courts, free Wi-Fi available (in the clubhouse & RV sites), planned activities, clubhouse & kitchen facilities, billiards room & dartboard, bocce ball court, 6 hole putting green, bean bag toss, and lawn croquet. RV sites total 323 with the following features: long, wide back-in sites, full hook-ups (w/s/e), 30/50-amp electric service, room for multiple slide-outs, lots of space between RVs, room for easy in and out, open & partial shade sites, and "satellite-dish friendly" sites. J. Cary Monroe, Michael B. Giordano, Matt Gentile and Glenda Rice with over 80 years of combined experience in commercial real estate lending, have established the commercial mort- gage banking firm of Monroe & Giordano which is active primarily in the Southeastern United States. The firm represents numerous lenders that are extremely active for properties of these types. Monroe & Giordano have proven they have the ability to provide their borrowers creative solutions based on each borrower's unique needs. Monroe & Giordano have offices in Tampa, Florida and may be reached at 813-229-5055.