With time quickly running out, a last-minute plan has surfaced to keep Palo Alto’s only mobile home park — and single-largest source of affordable housing — from closing for good.
The effort hinges on Caritas Corp., a nonprofit organization that has saved and now manages 20 mobile home parks in California, negotiating a deal to buy the Buena Vista Mobile Home Park from its owners, the Jisser family, according to Santa Clara County Supervisor Joe Simitian.
The City Council, meanwhile, is expected to sign off on the park owner’s closure application on May 26.
“We are running against the clock,” Simitian said during a press conference at City Hall on Wednesday.
“We know that as we do our work. But my hope and expectation is that when that May 26th decision is made, we are as ready as anybody can be to step up, make an offer, bring a successful partnership to the conversation and hopefully get a solution that serves everybody here.”
Simitian said funds for the purchase would come from three sources: $8 million in county affordable housing funds; $8 million in city affordable housing funds; and a tax-exempt revenue bond, which would be repaid over time with revenue generated by the mobile home park.
“Individually, we can’t get this done as a city, a county or as a nonprofit,” the county supervisor said. “Together, I believe it’s altogether doable. Not easy. Not certain. But altogether doable.”
The nonprofit organization, which signed a contract with the county on April 28, would add Buena Vista to its portfolio.
“It’s going to be a very challenging process, but it is very achievable,” said Caritas Corp. Chief Operating Officer John Woolley. “We believe that our unique experience and skill set positions us well to turn Buena Vista into a spirited and caring mobile home community.”
Woolley said the nonprofit organization “self-imposes” rent control and that any increases would be minimal. The idea is to preserve Buena Vista as a source of affordable housing in perpetuity. It is home to about 117 mostly low-income Latino families.
Erika Escalante, president of the Buena Vista Mobile Home Park Residents Association, called the plan exciting and encouraging.
“There are lots of details that will need to be worked out down the road but for now we’re focusing on moving forward, putting something in place, making this plan work that will allow Buena Vista residents to be able to stay in our homes, save our community,” said Escalante.
Beyond the purchase price, as much as $12 million is needed to cover years of deferred maintenance. It’s a cost that could be covered via the tax-exempt revenue bond or philanthropy, said Simitian.
Asked whether the park owner was aware of the plan, Simitian said he has held two meetings with Joe Jisser.
“The owner has been very clear that they don’t want to have a serious conversation about the purchase or sale of the property until after they have cleared the way through the city,” Simitian said.
“We have been respectful of that, but that has not precluded our getting a little bit better acquainted and getting a little bit of an understanding of the circumstances so that when the time comes we can sit down and have a good conversation.”
Email Jason Green at jgreen@dailynewsgroup.com; follow him at twitter.com/jgreendailynews.
