1. Richland Place
All Resident Meeting
November 29, 2017

2. Mike Ussery
President & COO
NHC

3. Richland Place Board of Directors
Voting Members
Lavonne Tarleton
Cardy Davis
500 Elmington Ave #306
Resident Council President
Dr. Paul Stumb, Board Chair
500 Elmington Avenue #300
25 Foxhall Close
(757)
Nashville, TN 37215
(615)
(615)
Roger Graham
500 Elmington Ave #407
Tim Shelly, Regional Vice-President
Lynn May
NHC, Metro Nashville Region
133 Abbottsford
(615)
8044 Coley Davis Road
Nashville, TN 37211
(615)
(615)
(615) cell
Blair Wilson
104 Woodmont, Suite 310
Christina Jones, Administrator
Charlie Cook
(615)
Richland Place - Health Care Center
3608 Richland Avenue
500 Elmington Ave
Nashville, TN 37205
(615) – home
John Bailey
(615)
30 Foxhall Close
Janet Jernigan
(615)
Joan Stephens, Director
Fifty Forward
Richland Place – Independent Living
174 Rains Avenue
500 Elmington Ave.
Nashville, TN 37203
Non-Voting Members
(615)
Mike Ussery, President and COO
National HealthCare Corporation
Anne Johnson
P.O. Box 1398
Kim Looney, Legal Counsel
500 Elmington Avenue #326
Murfreesboro, TN 37133
Waller, Lansden, Dortch & Davis
(615)
511 Union Street, Suite 2100
(615)
Nashville, TN 37219
(615)

4. Richland Place
History

5. 1989 - Richland Place, Inc. and NHC. entered into an agreement
Richland Place, Inc. and NHC entered into an agreement related to the purchase of the Richland Place site.
NHC handled pre-construction, planning, marketing, etc. until opening in 1992/1993.

6. 1992 – Opened the Health Center at. Richland Place using beds owned
1992 – Opened the Health Center at Richland Place using beds owned by NHC (University Health Care).
1993 – Opened the Independent Living with the “Front of the Line 40”.

7. $43 million project.
$33.3 million tax exempt bonds through The Health & Education Facilities Board of Metropolitan Nashville, Davidson County.
Remaining debt -- $11 million -- funded by NHC.

8. Assisted & Independent Living Accounting & Financial Services
NHC - A Senior Care Company
Assisted & Independent Living
Management Services
Insurance
NHC
Skilled Nursing Centers
Pharmacy
Accounting & Financial Services
Hospice
Rehabilitation
HomeCare

9. NHC National OperationsMA MO KY VA TN SC AL GA FL
76 Health Care Centers in 9 States
25 Assisted Living Facilities in 7 States
5 Independent Living Centers in 2 States
1 Geriatric Psychiatric Hospital in 1 State
36 Home Care Agencies in 4 States
28 Hospice Programs in 4 States
171 Total Operating Locations in 10 states
UPDATED
20 Accounting and Financial Service Contracts
Also:

10. NHC - A Senior Care Company

11. Current Financing First TN bank established in 2014
$10,750,000 at 3.665%.
10 year maturity / 20 year amortization.
Current Debt: $9.6 million

12. First TN Financial Covenant requires:
Debt Service Ratio of 1.25 or better
60+ Days of Cash on Hand

13. Liability for Refunds Due
$5.3M liability for refunds due at present
$3M line of credit available

14. 2018 Operating Budget Combined Budgeted Revenue $24,027,893
Operating Expenses $22,142,860
Salaries, Supplies, Utilities, Insurance, Taxes, etc.

15. 2018 Capital Budget Budgeted Depreciation $1,535,762
Apt. renovations, building repairs, patient room improvements, HVAC, etc.

16. Capital Improvements Independent Living Health Center
2016 Total
$950,000
$293,000
Interior Renovations
$820,000
2015 Total
$1,100,000
$282,000
$700,000
Independent Living
2018
Health Center
Interior
$597,000
Rehab Gym
$1,500,000
Generator
$125,000+ engineering and wiring
$405,000
Total
$1,051,300
$2,617,650

17. 10 year Rate Increase History Year Health Center Independent Living
2008 5% 0%
2009 3%
2010
2.5%
2011
2012
5.5% 2%
2013
2014
2015
2016 1%
2017 4%

18. Occupancy Health Center 95.67% 2017 YTD
Independent Living % YTD
(Average SNF occupancy in TN 75%)
12 move-ins to IL Apts. in 2017
125+ on the Waitlist

19. Market Analysis $298 $330 $265 $290 $205 $260 $225 $250 Provider
Room Rate: (Semi-Private Room)
Room Rate: (Private Room)
Richland Place
$298
$330
Blakeford- Woodcrest
$265
$290
NHC Sumner
Life Care
$205
$260
Bethany
$225
$250

20. 2018 – Budgeted net income HC - $382,314 IL – ($97,034)
2018 Board Approved Budget
2018 – Budgeted net income
HC - $382,314
IL – ($97,034)
Combined - $285,280
HC Increase – 0% Room and Board
- $40 Surcharge for all skilled Private Rooms
IL Monthly Service Fee Increase – 3%

21. Questions?