The Caroline Care Group has been working for seven years to accomplish construction of a non-profit assisted living facility in Bowling Green. New Hope Assisted Living would be located on the north side of Milford Street and the east side of Trewalla Lane and would have 80 rooms.
David Upshaw, Maxie Rozell and Bill Thornton addressed Town Council last week on their next hurdle. They hope to acquire a $10 million loan from the USDA, but in order to qualify they will need to raise $500,000.
This would cover the construction, site work, furnishings—everything. In the long term, they would be allowed to pay it back in 40 years.
“I am hearing from the USDA, ‘Is the community invested in this project? Show us that you are invested, then you can get the loan,’” Upshaw said.
So far the group has raised $60,000 in pledges and a $75,000 grant, all dependent upon getting the loan. They also have raised $70,000 in donations for operation costs of this process over the last three years. They plan to open an account at Union Bank to keep track of contributions and to aid them in finding other avenues for donations.
“This will afford us the opportunity to be creative in ways of raising funds,” said Rozell, “stock options, land donations and things we do not always think about.”
Council member Glenn McDearmonn, suggests looking “outside the box,” not just locally.
“There are a lot of people out there that would like to reach out and contribute to these kinds of non-profits, that have a good program that would benefit the community,” McDearmonn said. “It may be in California, we do not know.”
Rozell suggests this project goes well with Bowling Green’s comprehensive plan and economic development. There have been three financial studies done, and all show profits within two years. One of the reports, by Dixon Hughes Goodman LLP, a CPA firm out of Atlanta, shows that it would be a non-profit margin-producing project.
They already have the land and some funding, plus support from Council and the community, especially those who would be served by assisted living in town. Longtime supporter Donnie Pitts recently passed away, just one of the people in assisted living facilities outside of Bowling Green, who are now gone.
“There are many, many other friends and family members who will need this service in our community—if we are willing to make it happen,” Upshaw said.
The facilities would be for the seniors of Bowling Green, but also throughout Caroline, even from Richmond and Fredericksburg.
Their goal is to get this money before spring, but they’ll need a lot of outside assistance and a strong fundraising campaign. To learn how you can help, call the Caroline Care Group at 804-633-6488.
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