December 9, 2020
Special Update
Thank you for attending the
Dec. 9 Zoom update for
Life Care Humboldt!
There was a great turn out
for Ann Lindsay’s
presentation to our
strongest supporters.
(If you missed it or want to review the PowerPoint there is a link to the recording below).
We need help with fundraising and outreach!
We appreciate your knowledge, experience, and enthusiasm.
To help LCH become a reality and have posted a volunteer sign-up list on our website at this link.
We could also use some help with the LCH Facebook page!
Main Points
Since the PowerPoint on Wednesday had a little glitch...here is a summary of what the board has been working on and some of main points from the discussion.
Steps taken so far by the LCH board and supporters:
In late 2019 the first feasibility study completed.
It showed the population in this area could support a Life Plan Community with:
- 150 Independent Living residences
- 36 Assisted Living places
- 36 Memory Care/Advanced Nursing places.
A 15+ acre piece of land would be needed.
A nonprofit was formed in 2020.
$26,000 has been donated to date.
The board funded a second study to further define our start-up goals and to reduce the initial construction and finance costs.
This study recommended:
The size of property should stay at 15+ acres but LCH would start with a smaller number of units.
- 80 Independent Living residences
- 24 Assisted Living places
- 12 Memory Care/Advanced Nursing places.
- Depending on the size of the dwelling, entry fees could start at $250,000 with an average price range of $460,000 (add $10,000 for a two-person household).
- Monthly fees would range from $2,200 with an average cost of $4,800 (a second resident adds about $1000).
- Funds needed for initial planning and development are projected to be $300,000 raised through donations and grants in the next 6-months.
- The overall cost of securing the land, designing and building the community, setting up the operating structure, and marketing would be $70 million dollars.
- To qualify for the construction bonds we need to raise $8 million in the next 3-5 years through a combination of donations, grants, and development loans.
Next steps
- Design a fundraising campaign to raise the initial $300,000.
- Continue outreach for Life Care Humboldt with education about what a Life Plan community is and encourage people to join the local effort.
- Contract with development advisors and an architect to begin the design of Life Care Humboldt.
- When we are ready, the board will launch a “Founders Club” that will ask for $1,000 refundable contributions to show lenders we have a committed group interested in joining LCH as residents. This will NOT serve as a waiting list.
How Life Plan fees work
More information explaining how fee structures in Life Plan communities work can be found here in "THE COMPLETE GUIDE to the costs of senior living" (click to download booklet).
Video of the December 9 meeting
If you missed the discussion, want to review it, or share it with friends, here is the link to the recorded session.
Click on Zoom logo.
For access
you will need
to copy and paste this passcode:
#JR8Ze&R
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Thank you all for your interest and support,
donations have already
started coming in from this group!
It's a sunny new day!
We can build this... together!
Ann Lindsay and the board of LCH.
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