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READING HOUSING AUTHORITY <br />Minutes of the Meeting of Executive Session of December 13, 993 <br />At 8:15 P.M., the Board members of the Reading Housing Author ty <br />along with the Executive Director, Ms. Plansky, and the Autho ity's <br />attorney, Mr. Greco, convened Executive Session in order to discuss <br />the linkage provisions for the Pearl Street School reuse as an <br />Assisted Living Facility. Mr. William Casper of Longwood Associates <br />met with the Board to review the proposal presented to the To n. <br />Mr. Casper gave .a brief overview of his experience working with <br />subsidy programs along with his partner Mr. Ed Leavitt, who has <br />operated nursing homes in Massachusetts for over 14 years. Their <br />attorney, Mr. Howard Cohen, is working with the Town on the finalization <br />of the P &S agreement. <br />Mr. Casper reported that their development has made applicatic <br />to MHFA for Official Action Status (OAS) on November 11, 1993. <br />Construction is expected to commence in Fall 1994 and will be <br />completed in about l year. As a private venture, the Longwooc <br />Senior Assisted Living Facility would pay full taxes to the Tc <br />There would be 65± units: 80% at market rate; 20% for low-inc( <br />The facility would have 24 hour supervision ; call system for <br />residents; monitoring of medications (not administering). <br />Mr. Casper presented a profile of the average resident: <br />- average age is 85 <br />- usually frail but not needing nursing home care <br />- average stay is 2� years <br />- 20% of units would be for Medicaid qualified Group Adult Fo! <br />Care applicants with qualifying incomes of $6600 or less <br />- 80% of units would be market rate with prices of combinatioi <br />packages of housing /services between $2000 -2700 <br />- would require security deposit plus 1 months rent <br />The Board inquired about the following: <br />- demographics study to show feasibility /need for this type f <br />in Reading <br />- Layout of units <br />- What elements of project are in place? still needed? <br />- Who would be served? Alzheimers patients? AIDS patients? Pr <br />for Reading residents? <br />- What would happen if facility ran into financial difficulty <br />- Expected lease -up schedule for full tenancy of facility <br />- When market rate tenants run out of money, what happens to <br />their tenancy? <br />- Would they service disabled as well as elderly? <br />- What monitoring would be done of facility? by whom? <br />Mr. Casper answered some of the questions, but was not able t <br />answer specifics as to tenant selection, etc. Mr. Casper did <br />state that MHFA does an annual inspection; annual audit and a <br />n <br />n.. <br />e. <br />ter <br />cility <br />f erence <br />