Before providing financing under this chapter, the department shall require:

1. (1) Verification that at least two-thirds of the households residing in the mobile home park support the plan for acquisition and conversion of the park;
2. (2) Verification that either no park residents will be involuntarily displaced as a result of the park conversion, or the impacts of displacement will be mitigated so as not to impose a hardship on the displaced resident;
3. (3) Projected costs and sources of funds for conversion activities;
4. (4) A projected operating budget for the park during and after conversion; and
5. (5) A management plan for the conversion and operation of the park.

[ 1993 c 66 s 12.]