On October 6, 2009, The Silver Lining Foundation launched its self-owned housing program that taps into unused federally owned fully furnished manufactured homes and park models and makes them available through program partners throughout the state of Texas to the following categories of individuals and families who are eligilbe to participate in this program:
• The elderly and frail elderly;
• Persons with physical disabilities;
• Persons with developmental disabilities;
• Persons with severe mental illness;
• Persons with substance abuse problems;
• Persons with HIV/AIDS;
• At-risk children and youth;
• Victims of domestic violence;
• Persons experiencing homelessness and those at risk of homelessness;
• Housing Authority Residents;
• HUD defined Low income individuals and families; and
• Households with children in need of Lead Based Paint Remediation
Here's how the program works:
An individual, business or non profit ("Third Party") pays a tax deductible donation of $3,250 plus a variable amount equal to the cost of transport and setup (see below for details) of the manufactured home to The Silver Lining Foundation so that the foundation can house an eligible applicant for the 18 month compliance period (estimated cost summary below.) In addition to the initial donation to The Silver Lining Foundation, the Third Party will also be responsible for the cost of skirting, stairs, utility connections and any necessary repairs/renovations to the unit to make the unit ready for occupancy.
During the 18 month compliance period the Third Party can not charge unit rent for the home but can charge underlying lot rent, security deposit and pass through the cost of utilities, insurance and taxes to the approved occupant.
During the 18 month compliance period, The Silver Lining Foundation shall hold the title to the unit and shall assist in identifying eligible applicant/applicants to participate in the donation program For the 18 month compliance period and the unit occupant shall pay a $75/month administrative fee to The Silver Lining Foundation.
At the end of the 18 month donation period, so long as all of the terms and conditions of the occupancy agreement have been complied with and both the third party and the unit occupant is not in any way in breach of the agreement, the title is passed to the Third Party for $25 plus associated title transfer fees as outlined in the occupancy agreement.
The Silver Lining Foundation hopes to find Third Parties that agree to pass the title through to the occupant at the end of the 18 month donation period. To the extent that the Third Party is willing to do this, it can opt to recoup the cost of the unit, transportation and setup costs from the occupant. The Third Party can also opt to keep the unit after the 18 month compliance period and use it for whatever purpose it sees fit, such as renting or selling the unit.
The retail value of manufactured homes in this program is $40,000. The retail value of park model homes in this program is $30,000. Through The Silver Lining Foundation Housing Donation Program, the final cost of the home to the Third Party is $25 plus title transfer fees as well as the Third Party costs outlined below
Third Party Costs:
• Donation Program Cost of Home: $3,250
• Estimated Move Cost: $ 900 to $2,000 (depending upon location)
• Estimated Block/Level Cost: $1,200
• Estimated Skirting and Steps: $1,000
• Estimated Utility Connections: $ 750
Total Estimated Third Party Cost: $7,100 to $8,200 (depending upon cost of move)
If you are interested in becoming a Third Party sponsor, or have more questions about this program, click here to contact The Silver Lining Foundation