HAPPY THANKSGIVING TO ALL!
As you talk to friends and families over the holidays
please let them know about Life Care Humboldt.
Turn people on to our website,
ask them to do design survey
and to sign up for the mailing list.
NEWS
We’ve made a lot of progress in the last month!
- The Property Search Committee toured and evaluated several properties, then selected the top three possibilities. Those that best fit our size and location criteria are: the Creekside Homes Property in Arcata; McKinleyville Town Center; and the Green Diamond Upper McKay property behind the Hospice in Eureka. We will be meeting with property owners soon. (You can find out more about the individual properties by viewing Ann's OLLI presentation below.)
- In order to keep construction costs down and lower entry fees, the Board has decided to start with a smaller community than originally planned with 80 independent residences, 24 assisted living and 12 memory care units.
- Several LCH Board Members attended the Leading Age national conference of nonprofit Life Plan communities, garnering many great ideas and connections.
- We are currently in talks with development advisors and design firms who specialize in Life Plan facilities and who can understand the specific needs of our region. We don’t have to reinvent the wheel, but we want a wheel that reflects Humboldt County!
- We have increased our research into existing mixed-income nonprofit Life Care communities. It’s exciting to see great examples around the country.
MARKET FEASIBILITY
We know, from our initial financial analysis, that the current Humboldt County population (25% of which are 60 or older) can support a Life Plan campus in our area. Furthermore, demographics tell us that the United States population of age 75+ will increase from 20 million in 2020 to over 50 million people in 2050. The need for this type of housing will continue. In addition to local older adults, we anticipate some families bringing parents into Humboldt, and that others from out of the area will be joining us.
SAFETY
During the COVID-19 crisis Life Plan communities have done well at keeping residents safe and socially connected. They were able to stay agile and proactive to protect residents. We have learned about new directions in the physical design of campuses to help keep people safe from infection. We now have a downloadable Design Guide from the nonprofit 2Life Communities - a resource of current infection prevention guidelines that we can utilize.
AFFORDABILITY
The cost of Life Plan living is based on the size of the home and the range of services a resident might require. To make LCH available to mixed-income levels we are looking at building a range of sizes in our apartments, townhouses, and cottages. There is a possibility of getting funds to help support lower income resident housing from existing Federal and State programs.
We can also follow the lead
of many facilities across the nation
and offer an “alá carte” menu of services
that can keep the costs down for a resident.
For example, this alá carte menu could mean someone might chose not to be part of the exercise facilities, but still have meals seven times a week in one of the facility restaurants. Services for the resident can then be increased as needed. Medical management by LCH can also help residents combine their wellness care with other sources of support already in the community.
- Home Care
- Home Health
- Hospice
- PACE
WHAT WILL IT TAKE TO BUILD LCH?
Next 6-months- Raise initial funds of $300,000 to secure the land and pay development advisors and design firms.
Next 3 years – Build a strong list of pre-sale commitments from people who want to move into LCH.
Please talk about LCH
with friends and family
both near and far
to build this list of interested people.
Next 6 months to 5 years - Just like building a house, we need a down payment. We will need to raise an estimated 8 million dollars from a combination of grants, donations, and loans to be eligible for financing of the main project. Construction financing would include public, tax-exempt, private and preferred instruments of lending.
LOW INTEREST RATE ENVIRONMENT
We have historically low cost of capital at all levels of lending right now.
So give now to help us get to the next phase of development!
WE NEED YOUR HELP TO CONTINUE!
OPTIONS FOR YOUR END-OF-YEAR DONATIONS
DONATE BY MAIL
Life Care Humboldt
2475 North Bank Road
McKinleyville CA 95519
GET A TAX DEDUCTION
There are many ways to donate and get a tax break.
The CARES act allows households up to a $300 tax deduction to nonprofits on their 2020 taxes. Otherwise, since 2018, new Federal income tax laws increased the standard deduction which eliminated the tax benefit of making charitable donations for many people unless they are donating a relatively large amount of cash.
Taxpayers over age 70 ½ who are making distributions from a Traditional IRA can properly reduce their taxable income by making a Qualified Charitable Distribution directly to a charitable, 501(c)(3), organization, like LIFE CARE HUMBOLDT.
Ask your tax professional about the potential benefits of the following options:
- Giving appreciated investments, such as stock shares. This allows donors to deduct the investments’ full market value (subject to certain limits) without having to pay capital gains tax on the appreciation.
- Contributing through Individual Retirement Accounts (IRAs). For donors who are age 70½ or older, direct contributions of up to $100,000 can be counted toward their required yearly IRA distributions and will not be included in their taxable income.
- Making larger charitable gifts! At a certain point, your total contributions to qualifying nonprofits may be high enough that itemizing makes sense for you again. Of course, that’s not for everyone–though some taxpayers may wish to alternate years, giving little or nothing for one year and making large gifts the next.
See a tax professional for more detailed planning and advice and get your end-of-year donations in place!
Click on the photo!Aging Well in Humboldt
Details of the land we've been evaluating are part of this October 26, 2020 ZOOM presentation from Ann Lindsay. Learn about the progress being made on establishing our own non-profit senior life plan community focused on active, mindful, and engaged aging in Humboldt County.
And please take this opportunity
to access the link to the DESIGN SURVEY
...if you have not done so yet!
Have questions?
Input?
Attend a ZOOM House Party!
Let us know if you want
to be a guest of a Zoom House Party
or
if you want to
invite some friends to a session with you.
Just send an email to lch@lifecarehumboldt.org
and we will make it happen!
