FREQUENTLY
ASKED QUESTIONS
 Health
and Physical Condition
Food
Shopping
Occupancy
Financial
Management
Concluding Comments
Health
and Physical Condition
Q1 What will
be the age criteria for Prospective Residents?
A1 In general,
it is expected that residents will be aged 55 years or more.
Q2 What will
be the criteria for health condition to be eligible to be a resident
of Gokul Gaun?
A2 Since
this is primarily a 55+ retirement community, it is expected that
prospective residents will be in good physical health, are mobile.
If a person needs daily assistance for routine personal chores or
is immobile or bed ridden needing medical assistance, it will not
be possible to accept such individuals. Please note we do not have
Assisted Living Facility or Nursing Home on the property.
Q3 How long
can an individual stay at Gokul Gaun?
A As long as one wishes. However,
if a person needs special medical care on continuing basis, the
management will decide whether that individual can continue to stay
at Gokul Gaun. Reasonable notice will be given to vacate the unit
and all reasonable efforts will be made to find suitable alternative
accommodation acceptable to the resident.
Q4 Will any
Assisted Living style help be provided?
4A There
are no such plans at the moment. However, if a spouse or another
resident can assume responsibility, the individual may continue
to stay at Gokul Gaun subject to monitoring of the resident’s
health condition.
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Q5 What will
be the procedures in the event of a death of a Resident?
A5 In the
unfortunate event of Resident’s death, Gokul Gaun will provide
adequate assistance to
(a) inform the responsible
relatives and legal authorities; and,
(b) help make funeral and
cremation arrangement, if desired.
Q6 How will
the Wellness Center be equipped?
A6 The Wellness
Center will be designed keeping in mind the resident population
in mind. All usual equipment and furnishings in adequate quantity
will be provided.
Q7 Please
elaborate on Scheduled Medical and Nursing Care.
A7 Management
plans to schedule qualified Nurse to provide primary care to the
residents. Visiting doctors may also provide medical advice and
guidance. For additional medical services, the residents will need
to make their own arrangements as specified by their health insurer
or by medicare.
Food
Q1 Will you
have Coupon System for meals?
A1 A fair
and reasonable system will be developed and provided to Prospective
Residents.
Q2 Will
the Resident get credit for unused coupons?
A2 Management
will develop fair and equitable policy for giving credit to the
Resident for unused coupons.
Q3 Can the
guests use the coupons?
A3 Yes
Q4 Can the
Resident buy additional coupons?
A4 Yes. But
only for few occasions it will be practical.
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Shopping
Q1 Will Gokul
Gaun have Facility to shop personal items for those who do not have
car?
A1 Yes. Our
proposed Mini Market will stock most routine items desired by the
Residents.
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Occupancy
Q1 What will
be the policy for Residents going away for extended period?
A1 Residents
going away for extended period will be given reasonable credit towards
variable expenses. Fixed expenses will still need to be covered.
Q2 Can the
family and friends stay with the Residents in their unit?
A2 No. Since
we plan to provide competitively priced motel type rooms for visiting
family members or the guests of the Residents it is not permissible
for guests to stay with the Residents. Residential Units will be
furnished only to accommodate the Residents.
Q3 Schedule
for occupancy to begin
A3 Once we
receive firm commitments from Prospective Residents to ensure 60%
project occupancy, we will initiate the construction process. It
is expected that it will take eighteen to twenty four months to
complete construction and furnish the units to make them ready for
occupancy. Prospective Residents and interested parties will be
kept informed via monthly or quarterly Progress Report.
Q4 Provide
list of optional items and their estimated costs.
A4 Housekeeping
services more than once a week, laundry, ironing and dry cleaning
services, room service, taxi service etc are few examples.
Estimated costs can be determined after the project is ready for
occupancy.
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Q5 Clarify
meaning of “Active Seniors”.
A5 ‘Active
Seniors” means individuals aged 55 or older in good physical
condition.
Q6 Policy
for Damages due to negligence of a Resident.
A6 Residents
will be responsible for all damages caused by them or their guests
or visitors to the unit or its contents or physical property of
the Project.
Q7 Policy
for visiting relatives and guests.
A7 Gokul
Gaun will welcome visiting relatives and guests of the Residents.
That is supposed to bring happiness to the Residents.
Q8 What
facilities will be provided for visiting relatives and guests?
A8 Visiting
relatives will be able to rent furnished motel type rooms for a
stay up to two weeks at a time. Rental charges will be competitive
and less than comparable commercial projects.
Visiting relatives and guests
will also be able to purchase reasonably priced Meal Coupons during
their stay at Gokul Gaun.
Q9 Can a
resident upgrade or downgrade to a desired size to suit changed
individual circumstances?
Q9 Yes. However,
it will entail termination of old contract and executing the new
one under conditions prevailing at the time. Also there may be some
charges to prepare the unit being vacated to make it occupancy worthy
for a new prospect.
Q10 How will
a prospective resident select the Residential Unit his/her choice?
A10 Once,
the architechtural plans are completed. Floor plans for each floor
identifying the type of unit will be furnished for prospective resident
to select the desired unit on a first-come-first-served basis.
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Financial
Q1 How did
you set the amount of refundable deposit?
A1 We estimated
the total project cost and divided by total square footage of the
residential units. That per square foot price was divided by 0.70
to allow for 70% occupancy. That figure multiplied by the square
feet of the residential unit gave us the figure which was rounded
to a nearest thousand.
Q2 Does the
refundable deposit earn any interest?
A2 No and
Yes. Resident does not earn any taxable cash interest on refundable
deposit. However, if you consider $1,000 reduction in monthly charges
it will show a decent return on your deposit. Since the project
is not-for-profit interest saved by reduced institutional borrowing
to implement the project is indirectly passed on to the residents.
Q3 Does Gokul
Gaun make any Promotional offers?
A3 Yes. Those
Prospective Residents register and make financial commitments prior
to commencement of construction, will be given either 10% discount
on Refundable deposit or 10% discount on monthly charges.
Q4 Is there
a deadline for making financial commitment?
A4 No. However,
to avail of discount privilege it is advisable to make firm commitment
as soon as practical. Besides, it will help speed up the implementation
of the project.
Q5 Are figures
quoted under Option One final?
A5 No. They are based on certain
assumption of operating costs. Actual operating costs will enable
the management to revise these figures.
Q6 Are figures quoted under Option
Two final?
A6 No. Most likely they are likely to go down.
Factors such as occupancy, timing of construction, actual construction
costs etc will determine these figures. In any case, actual figures
will be provided at the time of registration. If final figures are
lower, the residents will be refunded the excess amount. If final
figures are higher, the residents who have already executed the
agreement will be exempted from additional amounts. It will only
affect the new prospects.
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Management
Q1 How will the Project be managed?
A1 Gokul
Gaun is proposed to be a separate legal entity. It is proposed that
it be organized as 501 (c ) (3) not-for-profit community service
organization. It will have its own Board of Directors responsible
for project execution, efficient management, quality control and
development and enforcement of rules and regulations for the project.
Board of Directors will be closely monitoring the operations of
the Gokul Gaun.
All day-to-day operations
such as food service, house keeping services, repairs and maintenance,
upkeep of the property etc will be carried out by hired professional
staff.
Very few tasks will be handled
by volunteers, only if the level of service is not compromised.
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Concluding
Comments
Above questions were asked
by the individual prospective residents who were given advance copy
of the Project Synopsis for review and comments. Gokul Gaun management
realizes that Prospective Residents may have additional questions
which are not answered above. Please feel free to send us those
questions and we will give the answers to the best of our knowledge.
All Prospective Residents
are urged to note the following:
Gokul Gaun is a not-for-profit
community service project.
No corners will be cut or quality be compromised.
Management is committed to make golden years of its Residents comfortable
and full of joy. All physical components will be of highest quality,
food will be home cooked quality and activities will be planned
to keep residents occupied with good activities in company of peers
with common interests.
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