2013 New York Consolidated Laws
PBH - Public Health
Article 46-A - (4650 - 4676) FEE-FOR-SERVICE CONTINUING CARE RETIREMENT COMMUNITIES DEMONSTRATION PROGRAM
4661 - Consumer safeguards.

 
    * §  4661.  Consumer  safeguards.  The applicant shall demonstrate the
  financial feasibility of the facility.  The  operator  shall  provide  a
  statement of the anticipated source and application of the funds used or
  to be used in the purchase or construction of the facility, including:
    1. An estimate of the cost of purchasing or constructing and equipping
  the  facility,  which includes related costs such as financing expenses,
  legal expenses, land costs, marketing and development  costs  and  other
  similar cost the provider expects to incur or become obligated for prior
  to the commencement of operations;
    2.  A  description  of  any mortgage loan or other long-term financing
  intended  to  be  used  for  the  financing  of  the  facility  and  the
  anticipated terms and costs of financing;
    3.  An  estimate  of  the total amount of entrance fees to be received
  from or on behalf of residents at or prior to commencement of  operation
  of the facility;
    4.  An  estimate  of  the  funds,  if any, which are anticipated to be
  necessary to fund start-up losses, and provide reserve funds  to  assure
  full  performance of the obligations of the provider under contracts for
  the provision of continuing care;
    5. A projection of estimated income from fees and charges  other  than
  entrance  fees,  a  description  of  individual  rates anticipated to be
  charged, the assumptions used for calculating  the  estimated  occupancy
  rate  of  the  facility  and the effect on the income of the facility of
  government subsidies, if any, for health care services provided pursuant
  to the contracts for fee-for-service continuing care;
    6. A projection of  estimated  operating  expenses  of  the  facility,
  including  a  description  of  the  assumptions  used in calculating the
  expenses and separate allowances, if any, the replacement  of  equipment
  and   furnishings  and  any  anticipated  major  structural  repairs  or
  additions;
    7. Identification of assets pledged as collateral for any purpose;
    8. An estimate of annual payments or principal and  interest  required
  by any mortgage loan or other long-term financing; and
    9.  Such  other  material  information  concerning the facility or the
  operator as required by the  commissioner  or  as  agreed  upon  by  the
  operator and the prospective resident.
    * NB There are 2 § 4661's