Housing Emily O’Toole

Shared Housing  A community organization owns a home or leases an apartment that is then rented to three to ten unrelated older persons  The older persons live together as a family, sharing the financial and daily living responsibilities

Shared Housing  Fee structure – low rent, based on current market rates > around $400-$500 a month (includes utilities)  Source of funding  An average annual budget is $450,000

Board and Care Homes  special facilities designed to provide those who require assisted living services both living quarters and proper care. Often referred to as residential care homesresidential care homes  staffed by licensed professionals, including nurses, doctors and other medical professional  offer residents 24 hour assistance

Board and Care Homes  Fee structure - Can cost from $350 to $3500 per month, depending on its location, the size of the living space, the amount of privacy, and the amenities provided  Source of funding – Most government funding for Board and Care homes are only provided for youth and foster care services, not elders

Assisted Living  combines residential and home care services  It was designed as an alternative to nursing home placement  The operator of the Assisted Living Program is responsible for providing or arranging for resident services that must include:  Room & board  Housekeeping  supervision  personal care  case management  home health services (i.e. intermittent skilled nursing, medical supplies and equipment, personal emergency response systems and adult day health care)

Assisted Living Facilities  Fee structure - costs vary with the residence, apartment size, and types of services needed  Investment Guide 2010, the median rate for an assisted living community is $3,326 per month  Funding – In Illinois there is a Board and Care Act with a sub section:  Assisted Living and Shared Housing Regulatory Fund. All licensure fees and fines collected pursuant to the provisions of this Act shall be deposited into the Assisted Living and Shared Housing Regulatory Find. Subject to appropriation, moneys deposited into the Fund shall be used for the administration of this Act and the Assisted Living and Shared Housing Act.

Continuing Care Retirement Communities  Also known as a life-care community  Cares may all be met in a single residence  All facilities in the same place  Like an apartment in a congregate housing facility, a room or apartment in an assisted living facility, and in a skilled nursing home

Continuing Care Retirement Communities  Fee structure –  an entrance fee (generally comparable to the average value of residential homes in the community's geographic area) approximately $115,000  a monthly fee beginning at approximately $2,100.  Funding – the residents, or residents families who pay the fees are the only funding that can be found