Senior Housing and Assisted Living

Terraces on Tulane, a newly constructed senior housing community in New Orleans, Louisiana, is celebrating its re-opening after the former facility was badly damaged by Hurricane Katrina.  The Terraces on Tulane replaces Forest Towers, badly damaged by Katrina, and is a 200-unit community for low-income seniors  and is operated by Volunteers of America (VOA).  The $43 million complex features state of the art security and facilities that provide a comprehensive level of care and it also incorporates all of the latest building safeguards that were implemented after Katrina that will protect the facility in the event of another hurricane of the same magnitude as Katrina.

Many of the 187 residents living there when Hurricane Katrina hit had lived in the building for more than 10 years. When Hurricane Katrina hit, Volunteers of America successfully evacuated every resident of Forest Towers East. The residents were scattered all over the country. But what wasn’t lost in the storm was a desire to reestablish the community at Forest Towers East and return home.

The Terraces is part of Volunteers of America’s commitment to create more than 1,000 units of affordable rental housing in New Orleans where VOA has had a presence since 1896.

Governor Charlie Crist recently announced that Florida received a federal grant of more than $2.9 million to assist Florida elders looking to re-enter the workforce. Awarded to the Florida Department of Elder Affairs, the additional grant funds will immediately address unmet needs for employment and job training among Florida’s low-income older workers age 55 and older.  Florida’s share of the U.S. Department of Labor’s additional $225 million for senior employment programs is larger than all states’ except California.

“This grant announcement comes at a time when older Floridians seeking jobs need it most,” Governor Crist said. “Every older worker offers a lifetime of experience and perspective that is an asset to any employer.”

Last year, the department’s Senior Community Service Employment Program (SCSEP) helped more than 1,230 older Floridians expand their skill sets and improve their employment prospects. After completing job training, SCSEP participants are placed in a part-time, community service-based position and then, eventually, a permanent job.  The new grant will allow SCSEP to serve an additional 200 older Floridians. Last year alone, 160 older workers were able to transition from the program into permanent positions with local organizations. SCSEP is the only federally funded employment and training program focused exclusively on the needs of low-income older persons.

“Older Floridians have a tremendous amount to contribute to our state,” Elder Affairs Secretary E. Douglas Beach said. “Older workers bring experience, dependability and maturity to their jobs, and these qualities benefit us all.”

HCP announced it earnings on Friday of last week that showed it earned $26.4 million in the fourth quarter, or 9 cents a share, compared to $34.6 million, or 14 cents a share, in the year-ago quarter.  During the fourth quarter, HCP recognized (which it previously announced) aggregate impairments of $54 million, which primarily included the following: i) $48 million of impairment charges related to three direct financing leases and a $10 million participation in a senior construction loan associated with properties operated by Erickson Retirement Communities; and ii) a $4 million impairment charge related to a senior secured term loan to an affiliate of the Cirrus Group, LLC.  HCP announced that year-over-year quarterly adjusted NOI same property performance increased by 2.3% and that the senior housing segment occupancy for the current quarter in the same-store senior housing was 85.5% representing 30 basis point sequential decline over the prior quarter and a 260 basis decline over the prior year.

For the full year 2010, HCP expects FFO applicable to common shares to range between $2.11 and $2.17 per diluted share and net income applicable to common shares to range between $0.98 and $1.04 per diluted share.

For the full earnings, release see the company’s 8-K or the 10-K.  For the transcript of the company’s conference, call click here.

Picking the best state to retire in involves many criteria. It is best to look at all factors before choosing.

Looking solely at taxes can be misleading. Five states have no sales tax; seven have no income tax. The only state that has none of either taxes is Alaska. Alaska may be a tough sell as a place to retire.

The cost of living in Alaska is high. Why?…almost every consumer good is trucked in from the lower forty eight states. No sales or income tax…great but it does give you the total picture in choosing a place to retire.

High income retirees will be very interested in states that do not tax income. It is not a coincidence that Florida and Texas, have a high number of wealthy retirees. They are among the seven states that do not tax income at the state level.

In 34 states your Social Security income is free from taxes. If Social Security is your sole source of income it would be important for you to know if your best place to retire excludes SS from the income they tax.

Taxes are not the only criteria to choose a state to retire in others include:

1) Medical care…is it adequate?

2) Is the family close…or is it far enough away?

3) Cultural activities

4) Outlets for your hobbies?

5) Personal safety

Choosing the best retirement state involves many factors. There are two important approaches to your decision making:

1) Relax go slow…what is the hurry, you have worked all your life…take your time in selecting the state you will retire in

2) Rent before buying. This will not make you buddies with real estate salespersons…too bad… rent first. You may find that the spot you choose for vacation feels different when you live there. By renting first you keep yourself from making a big mistake.

You need all the information you can get on each state you are considering for retirement. Here’s how to get the information. It is free.

For further information on the best retirement states. Gary Pierce freely shares information on how to retire on less at best retirement states. It is loaded with free information on retirement lifestyles you may not have thought about. You can get a unique content version of this article from the Uber Article Directory.