REPORT OF WHITE PONY ADVISORY BOARD MEETING

MAY 8, 2014

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John Harned, President of Epworth, developers of Epworth at the Ranch, called for the meeting of the White Pony Advisory Board at 12:00 PM on May 8th, 2014 in the Tasting Room of Brooklyn’s Restaurant. The purpose of the meeting was to inform the White Pony Advisory Board of changes in the sales organization of Epworth at the Ranch, to clarify the terms of the buy in for initial occupants at the Ranch.

 

John Harned started the meeting by announcing that Shane Sayrahder (sp?) no longer represents Epworth at the Ranch and that Joe Haney is the representative for Epworth at the Ranch. John gave no reasons for the change other than to say Shane Sayrahder was not a good fit. John also announced that Elean (sp) Moo, from Spectrum a marketing consulting firm, will assisting Epworth in their sales effort.

 

John announced that 78 families had made firm commitments to buy into Epworth at the Ranch as of May 8 th . The target for buy in set by the bond purchasers remains 108. John is confident that target will be met by the early September deadline. John Harned is operating on a schedule that has the financing completed and construction starting in October and occupancy 18 months after the start of construction.

 

John Harned also set out to clarify some of the confusion that has arisen concerning the cost of the initial buy in at the Ranch. The terms are as follows:

 

 

• a $500 non-refundable deposit

• 10% of the cost of the unit being purchased

• 90% of the cost of the unit bring purchased is due at the time of move-in

 

These initial entrance fees will be in force until shortly after construction is complete and after that they will increase substantially. These entrance fees are being held in escrow by SNB Bank.

 

The remainder of the meeting involved a discussion of the meaning of “Life Care” and its implementation at Epworth at the Ranch.” John Harned repeatedly stated that Epworth’s goal is to provide choices for residents of their facilities.

 

In addition to myself there were other members of the Emeriti Association at the meeting. They include; Andrea Arquitt, Ron Beer, Bill Brown, Bob Henrickson, and Mary Fry.

 

David K. Lewis

10 May 2014