Closing the Loans and Starting Construction

The financing for the Green House Residences has been finalized! We have signed all of the paperwork and the loans with Susquehanna Bank and NCB Capital Impact have been recorded. We received the inital draw from the Susquehanna Bank bridge loan yesterday.

Plano-Coudon has received the building permit and surveyed the site with the fencing supplier.

Buying the Land

GEDCO, through its subsidiary Windemere Long Term Care, LLC, has purchased the land from Baltimore City to build THE GREEN HOUSE(R) Residences at Stadium Place. As part of a Land Disposition Agreement, GEDCO has been working for the past 10 years on developing Stadium Place, on the site of the former Memorial Stadium in Baltimore City, into an urban retirement community. The next phase of development is the Green House Residences at Stadium Place, which will be the first Green House model of long term care in Maryland. The deed has been signed with Baltimore City, and it will be recorded today.

We're Growing a Home, Loan Commitments Signed

THE GREEN HOUSE(R) Residences at Stadium Place are coming to Baltimore. We are planning to start construction in December. It's been a long year, with many moving parts. We have completed construction planning, negotiated a lease with an operating partner, and finally put into place a financing package. We tried New Markets Tax Credits, but that didn't work out. NCB Capital Impact has come to our rescue with a long term loan, as well as bridge financing. The Loan Commitment Letters were signed yesterday! After receiving 5 qualified bids, a construction contract has been signed with Plano-Coudon, LLC. And our operating partner will be Associated Catholic Charities, which is already providing enhanced living, dignity and person-centered care for frail elders. Welcome home!

Financing and planning efforts moving forward

We are proud to report that the Trustees of The Harry and Jeanette Weinberg Foundation have approved a $2 million grant to support construction of The Green House(R) Residences at Stadium Place. This grant has provided momentum to our fundraising campaign, as we continue to meet with prospective donors and request leadership gifts. A campaign cabinet is meeting weekly to coordinate GEDCO and Green House Residences fundraising efforts.

Another major component of our financing plan is a New Markets Tax Credits (NMTC) transaction, which would provide at least $2 millions towards the project. This is a very complex transaction, but we feel confident that the pieces are coming together. A financing task force is assisting in our meetings with banks and organizations to obtain bridge loans and NMTC allocations.

The design team has distributed a bid package, and five contractors have met the qualifications. We will be selecting a general contractor for the building on April 2. We are also finalizing terms with the potential operator of the project.

The national Green House meeting

Ted Gross - GEDCO Director of Senior Services - attended the national Green House meeting in Kansas City and participated in a number of networking and educational sessions. Here is his report:

• Dr. Bill Thomas taught the audience how to tell a story
• Bonnie Kantor (Pioneer Network) spoke about new partnerships with CMS, including a request to have each state appoint a culture change leader.
• Workflow research was presented which confirmed that the Green House model provides more direct care hours per elder, while using less administrative and executive time. This should lead to cost savings compared to standard nursing homes once the project is operational.
• Research about the nursing team reinforced the need for improved training and effective teamwork with the shahbazim.
• We discussed the importance of meal time and convivium
• We learned how to speak Green House. (I will popst next week)
• NCB will be introducing a new web site this fall, and there are now 18 short video clips about the Green House model.
• Arkansas is working with CMS to change the daily Medicaid reimbursement rate for Green House homes.

Baltimore Approves GREEN HOUSE Design!

Yesterday afternoon the Baltimore City Planning Commission approved the design for GEDCO's GREEN HOUSE Residences at Stadium Place and the technical details related to the modification of our original "nursing home" concept component of the community (PUD zoning ordinance) and land allocation (subdivision of the property) to accommodate our project.

After the Planning Department staff member assigned to review our project presented the details, the Chairperson asked for anyone present who wished to speak against (thankfully no one) or for the project.

Councilwoman Mary Pat Clarke (who represents the area around Stadium Place) then enthusiastically jumped to her feet to praise GEDCO as the sponsoring organization, the concept and execution of our "affordable retirement community," and to remark how proud she is that the first Green House in the State of Maryland offering such a unique brand of "humane," cutting edge care for frail elders embedded in the Green House model will be located in her district.

Councilwoman Clarke embarassed me into getting up to "share my enthusiasm" with the Board members who then responded with some very heartfelt praise for GEDCO and our work in the community. I left feeling like I had just participated in a "love-fest" in honor of everyone who has contributed to our successes over the years!

Children and Elders at Stadium Place

I wanted to share something I saw last week on Changingaging.org (Dr. Thomas' blog site) which really captures the spirit of what GEDCO is trying to accomplish at Stadium Place in general, and within the Green House Residences specifically.

We hope that by creating a welcoming environment that is integrated with the neighborhood, and that emphasized the role of family visitors and volunteer participation, we'll create these same kinds of inter-generational "miracles."

Children and Elders
Posted: 18 Jun 2009 08:47 AM PDT

I was fortunate to meet Bill Thomas and learn of his philosophy early on as I began my experience with a long term care facility. It has helped me to define the way I approach my work. I am beginning my 10th year at The Village at Manor Park in Midland Texas. Midland College has a child care center on the property and I care for the children at the facility. I had many years of experience working with children but no experience with nursing homes or an aging population. It took me some time to figure out just what the best plan would be. I have worked with many activity directors that had their own ideas about “activities”. I have come to the conclusion that a lot of activities are not necessary. Put children and Elders together and something magical happens naturally with out any prompting. I call them little moments from God and I am so blessed to be a witness to these little miracles. Thanks for all the work you do on behalf of the Elders we all love.

Tracy Roome