After summarizing the background of ROC USA and its subsidiaries, McKay and Bradley begin a discussion about the evolution of resident ownership, beginning with the first purchase in Meredith, New Hampshire in 1984 and scaling all the way through the launch of ROC USA in 2008.
Bradley discussed the three things resident ownership requires: opportunity, training and technical assistance, and financing, and how ROC USA provides services to those needs through ROC USA® Network and ROC USA® Capital.
He also highlighted the recent resident purchase by the homeowners at Asociaciòn de Residentes de North Lamar (ARNL) in Austin, Texas from Frank Rolfe, and went deeper into the benefits resident ownership provides versus commercial ownership.
Listen to Paul Bradley on the Coping in Crisis Podcast:
NCF’s Clark also spoke with McKay, discussing NCF’s work with limited equity land ownership in resident owned communities and in other areas, such as multifamily apartment complexes. She explained in detail how this style of cooperative housing operates, from finding opportunities to purchase, to financing, to how shares are issued and exchanged as cooperative members move in and out.
She also discussed the pros and cons of limited equity land ownership and her hopes for the future of cooperative housing.
The third season of Coping in Crisis features 52 episodes dedicated to conversations about the affordable housing crisis and was made possible through the Population Health Learning Collaborative’s Solutions Summit on which Bradley and Clark were featured panelists earlier this summer.
Listen to Victoria Clark on the Coping in Crisis Podcast:
Coping in Crisis is one of four podcasts series hosted by Nan McKay – she also hosts the Trailblazers Impact Podcast, Community Trailblazers, and Peace through Business Podcast. Her episodes are also available on YouTube.