We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Crisis at Rocky Mountain Mutual Housing Association Essay

Essay Topic:

Sorry, but copying text is forbidden on this website!

Rocky Mountain Mutual Housing Association (“the Mutual”) was a not-for-profit affordable housing organization incorporated in Denver, Colorado, in April 1992. The Mutual was founded for the purpose of acquiring, developing, and managing affordable multi-family housing to meet a growing social need for low cost affordable housing. The idea of “mutual housing” was based on a European residential model which provided permanent housing to anyone who was motivated to meet the obligations and challenges associated with homeownership.

A fundamental feature of the Mutual’s mission was to provide services to its residents in a variety of areas, including job training, after-school programs, and homeownership programs.

The overall goal of these programs was to provide the residents with the tools for gaining equity and equality in the housing market. A unique attribute of these “mutual” communities was direct resident involvement in the management and decisions that affected the communities.

The case describes the aggressive expansion undertaken in the 1990s and the operational and financial challenges faced by the Mutual as the housing market and local economy took a nosedive, adversely affecting property values and cash flows since the dot-com bust.

Experts in the field, such as HUD, and lien holders urged the Mutual to file for bankruptcy while the Mutual’s Chairman of the Board, Victor Gordman, was unyielding. The case focuses on the strategic decision of whether the Mutual should file for bankruptcy and exit by selling off its properties or stay committed to its mission and continue operations.

How to cite this page

Choose cite format:

Crisis at Rocky Mountain Mutual Housing Association. (2016, Nov 11). Retrieved from https://studymoose.com/crisis-at-rocky-mountain-mutual-housing-association-essay

We will write a custom sample essay onCrisis at Rocky Mountain Mutual Housing Associationspecifically for you

for only $16.38 $13.90/page
Order now

Our customer support team is available Monday-Friday 9am-5pm EST. If you contact us after hours, we'll get back to you in 24 hours or less.

By clicking "Send Message", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
No results found for “ image
Try Our service
online

Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b

online

Hi, I am Sara from Studymoose

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b

image

Your Answer is very helpful for Us
Thank you a lot!