BUSINESS PLAN UPDATE
Greenbriar, the company advising LPH, will update the financial plan and timeline of the project. They will factor in the number of homes planned for the McKinleyville campus and update the cost of land and construction.
LPH will contract local and national architects to design the campus with input from future residents. Architects and a volunteer work group will draft designs for review, including landscaping and restoration of native plants.
ESTABLISH A FUTURE RESIDENTS LIST
Life Plan Humboldt donors and volunteers will be the first to receive the invitation to the Future Residents List. With a $1,000 fully refundable deposit (which can be credited to entrance fees) list members will be the first to see the final design of the campus. As a Future Residents List member, you will be one of the first to reserve the residence of your choice.
A number of studies and surveys must be completed to get ready for building permits. With the initial wetland and botanical studies finished, the board has prepared for the ALTA* and topographic surveys of the land. We will also contract for other required studies: cultural resources, environmental review, storm water analysis, and hydrological design. Construction projects like ours must also do utility mapping and geotechnical mapping.
The good news is that a housing development on this property is already principally permitted and allowed by the zoning and plan designations in the EIR completed for McKinleyville and the Town Center.
Once plans for construction are completed, licensing is obtained from the Department of Social Services, and people deposit 10% of the entry fee to reserve 70% of the units, then we can secure private bond funding and begin construction.
Building a new community is not cheap. Construction and the purchase of the land will be paid for with bond funding, essentially a loan of money. This means our project needs to be strong enough to qualify for financing. We need a good plan, a demonstrated need, respected advisors, and money in the bank to support project development and operations.
We need to reach a total of $5 million in donations and grants to pay for all the surveys, permitting, development, operations, and to look good to the lenders. With your generous donations we have raised over $1 million of the $5 million needed. So we will continue to fundraise!
The Affordable Senior Housing part on our campus will be built and managed by a separate nonprofit on a parcel split off from the 14.58 acres and will be financed with Federal funding. Once we acquire bonding funding and take full ownership of the property, LHP will subdivide a roughly 2-acre parcel for affordable senior housing. We have begun discussions with Rural Communities Housing Nonprofit Development Corporation (RCHDC) to build and manage the housing.
This is such an exciting time!
Stay tuned and participate!
*An ALTA Survey is a specialized Boundary Survey of a property that adheres to strict standards developed by the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS). An essential part of any legal ownership of land, the boundaries of a property must be properly and professionally delineated, making note of any easements or public right-of-way, or any other addition to or deletion from the property throughout the course of the parcel9s history. Clearly defining the boundaries of a property prevents any dispute over where one parcel ends and another begins. An ALTA/NSPS Land Title Survey is a foundational component of any real estate due diligence period and is necessary to obtain comprehensive Title Insurance for any property as a buyer, seller, or owner.