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Joint resolution adopting the 2009 Winchester House Market Study including the associated financial and capital study.
Staff Summary
· The County Board commissioned 3 prior studies to review the management, financial information, and market share of Winchester House in senior care.
· The third study, the 2007 Transition Plan, focused on identifying the primary and secondary market areas, projected population needing skilled nursing care, revenue and expenses, and resident occupancy. The conclusion was that the primary and secondary service areas for Winchester House can support a new skilled nursing facility of approximately 175 beds.
· On September 11, 2007 the County Board adopted a resolution which established the Winchester House Operating Policies that set parameters for resident payer mix, directs facility operation within revenues and the property tax levy, requires that capital bonds for a new skilled nursing facility be retired using revenues and the property tax levy, and that the number of employees be in line with industry standards and tied directly to operational performance and occupancy.
· In 2009, a Market Study update was commissioned and found that the maximum capacity of the skilled nursing facility was 175 beds. An associated financial and capital study was also performed and found that a new 175 bed skilled nursing facility is financially and operationally feasible and would operate within projected revenues and the property tax levy.
· The joint resolution reaffirms the September 11, 2007 resolution, adopts the 2009 Market Study update including the associated financial and capital study findings that a 175 bed skilled nursing facility is feasible, and directs that the final number of beds be determined through the architectural design process. The joint resolution also directs the County Administrator’s Office to oversee and insure that the architectural design process and the construction of a new skilled nursing facility b...
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