When I first arrived at NCF in the midst of the MHPP program running full-swing, there was one home left that had not yet started its 18-month occupancy requirement: C6 in Madelia Mobile Village.
It took a long time to find a qualifying tenant, but eventually it happened, and we had a small celebration. 18 months seemed far away at that point, but now it seems that in no time at all, the end of it was here: Saturday, April 11, 2015, our last home fulfilled its mandated occupancy requirement. It was left in good shape and is ready to sell.
This closes one important chapter in NCF's life with 70 FEMA homes that has already spanned several years. It does by no means close the book, as we have 17 homes left to sell and then will also continue to manage 28+ homes sold by contract for title until they ultimately switch over to full ownership by the buyers.
The next milestone will be when all the homes are all sold. We expect this to happen around the end of this year.
The last milestone, when all the homes switch to they buyers' ownership is currently expected to be around mid 2022.