Colorado mountain town rallies to save senior living community: "Critical to the character of our community"
After falling into receivership, Casey's Pond, one of the only senior living communities of its kind for hundreds of miles, is now looking for an owner and tens of millions of dollars in order to stay operational.
That means that without help, the residents living at the facility will need to go somewhere else. Casey's Pond has the option for nursing care, independent living and levels in-between for senior citizens. It's cause for alarm -- not only for the employees and residents there but their families in town and the town itself.
Steamboat Springs City Manager Gary Suiter said local organizations and fundraisers met Tuesday afternoon to assemble a team that will work towards producing the kind of cash needed to buy off the debt that's culminated from the previous owner.
"Calling our state legislatures, our congressional delegation, finding money wherever we can," Suiter said. "I don't know if there is any congressional spending left or if there is anything under the Older Americans Act or discretionary funds at the federal government, but we are certainly exploring all avenues."
Tim Wohlgenant, CEO of the Yampa Valley Community Foundation, said they are not sure how they will help yet, but they showed up to the meeting as well. He believes it's a trend in senior living facilities across the state, especially in resort communities where housing crises only make situations more difficult for people living on a fixed income.
"It is tough. It is hard to keep these senior living facilities run as a business, that is why many of them are run by nonprofit organizations," Wohlgenant said. "That would be the hope here too that it would be a nonprofit operator that would manage the property going forward."
The difference in owners will simply be someone who is willing to take on the financially struggling business, although Wohlgenant said that so long as they can clear the current debt, he believes Casey's Pond can be profitable again.
"The debt burden itself is the real problem. A nonprofit entity who manages Casey's Pond -- oversees it -- entered in debt when they built the facility," Wohlgenant said.
The "how" doesn't really matter so much to Beth Watson, whose mother lives at Casey's Pond, so much as the end result: she wants to keep her mom close. Moving her away from Steamboat would mean less visitation from her only family.
"I don't think she would survive, really," Watson said, sadly. "She is at the end of her life and she is scared to death."
Tina Rozwadowski, living at Casey's Pond, is feeling a bit more optimistic about the situation after hearing groups are banding together to find a solution for residents like her.
"Boy, when I heard that, it was like, "yes! Yeah! That would work so well!" Rozwadowski said, laughing. "That's why I stay optimistic."
From a financial standpoint, it's difficult to find a buyer interested in taking on a less profitable operation. But Wohlgenant said he's hopeful a nonprofit will recognize the incredible benefits of having a senior community in the community and close to families.
"They are critical to the character of our community, the diversity of our community as well as many families stay here because they can bring their older loved one nearby," Wohlgenant said. "If we lose those resources it is just going to be more people leaving the community."
Suiter said he's not giving up on this and believes an answer will present itself thanks to the type of place that Steamboat is.
"In this community, there are a lot of smart people and a lot of influential people and there are people with money," Suiter said. "So, we are hoping."
