By Shannon Lukens.
Yampa Valley Community Foundation and Northwest Colorado Health have announced that the purchase agreement for Casey’s Pond Senior Living Community has been signed. Northwest Colorado Health will own Casey’s Pond and will continue to provide independent living, assisted living, and skilled nursing options.
Residents will be notified that they do not have to move out. Staff is also being notified next week that they will not be losing their jobs.
Yampa Valley Community Foundation led the fundraising efforts and is still collecting donations to help with the last expenses. An additional $500,000 is needed. Those interested in donating can to this link: Casey’s Pond Senior Living Community Saved from Closure
Press Release from Yampa Valley Community Foundation and Northwest Colorado Health; Aug. 30, 2024
For Immediate Release Date: August 30, 2024
CASEY’S POND PURCHASE AGREEMENT SIGNED
Northwest Colorado Health and the Yampa Valley Community Foundation announced today that a purchase agreement has been signed with the Receiver of Casey’s Pond. The Receiver will be sending out formal Recission of Closure Notices next week notifying residents that they do not have to move out, and to staff that they are no longer on notice of their employment being terminated.
Once the transaction is closed, Northwest Colorado Health, a longstanding local nonprofit, will become the new owner of Casey’s Pond Senior Living Community. Casey’s Pond will continue to provide independent living, assisted living and skilled nursing components. To ensure a seamless transition, Northwest Colorado Health will continue to partner with CLC-Capella, the award-winning current operator which will maintain day-to-day operations.
“Casey’s Pond Is being saved because our caring community had the wherewithal to step up”, said Stephanie Einfeld, CEO of Northwest Colorado Health. “We are honored to be the trusted nonprofit carrying this forward. Our focus has, and will continue to be, creating a stable and safe environment for the residents, families, and staff at Casey’s Pond.”
Northwest Colorado Health, a local, highly experienced nonprofit provider of comprehensive, affordable health services for people of all ages, will become the owner of Casey’s Pond. Northwest Colorado Health brings over 60 years of experience in the Yampa Valley, currently managing the regional home health and hospice program and operating The Haven Assisted Living in Hayden.
The purchase agreement provides for a relatively quick closing, anticipated to occur within 30-45 days. As announced previously, funding for the purchase price plus near-term support for Northwest Colorado Health’s operations of the campus has mostly come from individual commitments and donations from over 300 members of the community. The City of Steamboat Springs also committed $2.5 million, and a portion of the purchase price will be financed through a flexible, below-market philanthropic loan.
“Now that we have this under contract, I think we can all give a huge sigh of relief,” said Tim Wohlgenant, CEO of the Yampa Valley Community Foundation. “With this crisis averted, we look forward to turning our attention to working with Northwest Colorado Health on making the Yampa Valley the healthiest region of the state, from early childhood to our final years.”
The Yampa Valley Community Foundation will continue its fundraising efforts and is seeking to raise a minimum of an additional $500,000 to help bridge initial operating expenses as the new Casey’s Pond strives to re-populate and re-stabilize. Additional fundraised dollars will help reduce the philanthropic loan amount, thereby helping improve the cash flow for the new owner. Those interested in donating can go to yvcf.org/savecaseyspond.
For more information please contact Tim Wohlgenant, CEO of the Yampa Valley Community Foundation at tim@yvcf.org or 303-324-6881 or Suzi Mariano, Senior Director of Marketing and Development at smariano@northwestcoloradohealth.org or 970-871-7631.
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Past Steamboat Radio News coverage of Casey’s Pond
Aug. 23, 2024 — YVCF is under a verbal agreement to secure Casey’s Pond
Aug. 8, 2024 — SANDROCK RIDGE IN CRAIG HAS ROOM FOR SOME CASEY’S POND RESIDENTS
July 29, 2024 — Forty-seven Casey’s Pond residents are getting notices to leave in 90 days
July 26, 2024 — COMMUNITY EFFORT UNDERWAY TO SAVE CASEY’S POND
July 25, 2024 —HOUSEKEEPERS AT CASEY’S POND OFFER TO HELP
July 2, 2024 — CASEY’S POND GOES INTO RECEIVERSHIP WITH ROUTT COUNTY DISTRICT COURT