1. Retirement Community
Miramichi, NB

2. Topics Introduction Objective Description Financials Member Commitment
Next Steps
Q&A

3. Introduction
Development – Consulting - Management

4. Introduction Stephen Davies, P.Eng. Lew Cummings, CPA CA
Development – Consulting - Management

5. Green Cove Co-operative
Members
Coming together
to address
a common need
and to satisfy
their personal
Objective

6. Renting
An “apartment building” is rental of a housing unit, renting space.
Isolation
Not easily provided or available:
Services to reduce daily effort
Community interest and support

7. Community A Retirement Community is a lifestyle.
Designed to create a village, a community; knowing your neighbours, feeling welcome and supported.
Available services to help reduce work load while enhancing quality of life.

8. Member Services
Current Plan Dining Room Community Room Maker Space

9. Member Services & Benefits
We have many potential additions, including:
Health Care Laundry Services
Home Care Beauty Salon
Local Transportation
Possibly, even a boat dock..... and golf cart access to the center of Chatham.
The possibilities are many.  New additions is at the direction of the Membership.

10. Other Communities - examples

11. Other Communities - examples

12. Other Communities - examples

13. Other Communities - examples

14. Other Communities - examples

15. Concept Images
Site

16. Concept Images
Unit A

17. Key Documentation Land base secured. Member Commitments (conditional).
Realistic & viable business plan.
Future Member(s) availability.
Identified risks and liabilities.
Ability to attract long term financing.
All being developed as part of the process.

18. Project Cost
$14,550,000

19. Financial Goal
Bank Financing 75.0% $10,650,000

20. Financial Goal
Partner Financing 20.0% $3,000,000

21. (Investment Tax Credit)
Financial Goal
Partner Financing
Community Investment
(Investment Tax Credit)
Developer Participation
Other Investors

22. Financial Goal
Equity Financing
5.0%
$ 700,000

23. Financial Goal
Equity Financing Member Share Capital $10,000 # of Units x 70 Total Share Capital $700,000

24. Financial Goal
“The Perfect Site”
Land
$200,000

25. Financial Goal
Investment Bank Financing 75.0% $10,650,000 Partner Investment 20.0% $ 3,000,000 Contributed Surplus $ 200,000 Member Investment 5.0% $ 700,000 Total Investment $14,550,000

26. Roles in the Initiative
Member Individual(s) making a commitment to become a Resident

27. Roles in the Initiative
Investor
an individual contributing
financial capital
for investment return

28. Roles in the Initiative
City of Miramichi
Land Transfer
Option

29. Roles in the Initiative
Financial Partner / Developer working with Investors to secure the required project financing.

30. Non refundable deposit
Member Commitment
Non refundable deposit
$1,000.00
(October 1, 2017)

31. Member Commitment
Share Capital $10,000 Non refundable deposit $ 1,000 Balance, Unit selection $ 9,000

32. Member Commitment Schedule of Rents (anticipated) Studio 2 300 $ 500
# of Sq. Mthly
Apartment Units Units Footage Rent
Studio $ 500
One bedroom and 1 bath $1,075
One bedroom and 1 den and 1 bath $1,200
Two bedrooms and 1.5 baths $1,360
Two bedrooms and 2 baths $1,550
Two bedrooms and 2 baths 4 1,200 $1,975

33. Member Services Dining Room Community Room Maker Space Future Plans
Current Plan
Dining Room
Community Room
Maker Space
Future Plans
Health Care
Laundry Services
Home Care

34. Member Services (Example)

35. Member Non Refundable Deposit Financial Commitments
Important Dates
 October 1, 2017
Member Non Refundable Deposit
January 1, 2018
Financial Commitments
May 1, 2018
Breaking Ground
March 1, 2019
Move-in

36. Next Steps Listen to Member feedback from the AGM.
Creation of Member Commitment agreements; July / August, 2017.
Community marketing effort, summer.
Community Meeting to generate, signed, Member Commitment agreements; early September, 2017.

37. Questions & Comments 1 2

38. Thank You
Development – Consulting - Management