Initial grants of $1 million have been approved to support Northwest Colorado Health as it assumes ownership and operations of Casey’s Pond Senior Living Community. The community-wide fundraising campaign to save Casey’s Pond led by the Yampa Valley Community Foundation (YVCF) and supported by hundreds of community members was for two purposes – to enable the purchase of the senior living community and to support Northwest Colorado Health as it establishes new operational systems and builds the resident population back up to a stable number after a census decrease due to the potential closing.
An Advisory Committee was established as a subcommittee of Northwest Colorado Health’s Board to act as ambassadors of Casey’s Pond, a Community of Northwest Colorado Health, and advise on matters relating to the senior living community while also approving grants from the Save Casey’s Pond Fund held at YVCF. The Advisory Committee will consist of three Northwest Colorado Health board members, the CEO and Vice Chair of YVCF, and four members of the broader community with relevant experience in law, business, and health care policy and systems management.
“The Advisory Committee will be focused on operational progress, and we will grant funds as needed for stabilization and growth,” said Susan Larson, an advisory committee member and a member of the original team that designed, built and opened Casey’s Pond. “I don’t believe any other community besides the Yampa Valley could have generated the widespread support that enabled us to save Casey’s for current and future residents.”
Grant funding is being used to meet payroll and support general operations until the resident population increases to a positive cash flow level. “Before the closure was announced, Casey’s Pond was home to 126 residents,” said Stephanie Einfeld, CEO of Northwest Colorado Health. “The lowest it got down to was 104 the day the purchase agreement was signed.” The population has since grown to 112, including some residents who moved back in after the purchase, and tours and marketing efforts for more residents are in full swing.”
To celebrate the achievement, the community is invited to a ribbon-cutting ceremony at 1:30 p.m. Tuesday October 22 at Casey’s Pond, 2855 Owl Hoot Trail. The outdoor ceremony will be followed by music and refreshments. Parking is limited; please consider using River Creek Park, carpooling, taking the bus or biking.