Gotham Organization’s Post

Have you heard about the Australian government's new plan for residential care? Associate Professor Nicole Sutton and Professor Michael Woods analysis of the Government’s response to the Aged Care Taskforce was recently featured in The Conversation Australia + NZ. This new plan aims to enhance sustainability and equity within the system. Key updates include: 🏨 Means-testing the ‘hotelling supplement’: Subsidies for everyday living costs will be adjusted based on residents’ wealth. 🏠 Deferred rental payment: A new approach for those paying accommodation with a refundable lump-sum deposit. ❌Abolishing the means-tested care fee: Introducing a means-tested non-clinical care contribution to cover essential services. Read the full article below! UARC University of Technology Sydney UTS Accounting Department UTS Business School #AgedCare #AgedCareTaskforce #Ageing

Tower Hamlets Planning Following last week surprise refusal, by the Development Committee, of the proposals for Montgomery Square, in Canary Wharf, the Strategic Development Committee in Tower Hamlets took their opportunity to embrace the chaos on Wednesday evening. Despite the committee failing to be broadcast live via the council's webcast service, something that is likely to be raised as an issue, the committee made decisions on two major schemes. Following the resignation of two Aspire councillors last week the committee also did not see a change of members ahead of Wednesday night. The membership of the committee, which should have changed to reflect the new political makeup of the council, appears to have remained in its previous state. This gave Aspire a majority on the committee which they used to push both applications through. The Harbour Exchange scheme, which has already been deferred twice, was approved by members with little discussion. The points raised at previous committees on the scheme, around family sized homes, were not touched on. Members appeared to just nod through the unchanged scheme, which does raise questions regarding the original deferrals. The Life Science development in Whitechapel proved more contentious. Having also been deferred once already the application was expected to face some scrutiny. It what appears to be a highly staged managed process the Aspire members made two changes to the application. Firstly, removing the word "womens" from the £2.5m contribution to women's health projects attached to the application. In a borough where women's life expectancy is 7.5 years less than men, against a London wide trend of women living 1.2 years longer than men, this is a shocking decision by the committee. It will add fuel to the fire around the issue of the Aspire group having no female representation among their councillors. More critically from a planning perspective, Aspire members of the committee add a section 106 commitment that changed an affordable workspace contribution to an affordable housing contribution. The condition was explicitly referenced in the heads of terms before the vote on the item in what, could arguably, appear to be a coordinated move by members. Though the item passed this will almost certainly need to be dealt with, possibly by returning to committee, before the scheme can move ahead. While these kinds of moves are not surprising in Tower Hamlets planning committees the lack of intervention by officers, including the legal officer was surprising. It raises serious questions regarding the knowledge of members but also the position officers now find themselves in regarding advising the planning committee. With the Best Value report due to be published, despite legal challenge, its likely the behaviour of committees in the borough will feature in the inspectors commentary to the Secretary of State.

ONTARIO BUDGET is Just presented! At our Mackenzie Health grounds! Jane & majorMackenzie! The budget supports the establishment of a new medical school at York University, aimed at addressing the family doctor shortage in Ontario. It also includes a $128 million investment over three years to increase nursing student enrollment in response to the nursing shortage. A significant portion of the budget, $2 billion over three years, is allocated to the home and community care sector to enhance compensation for care providers and expand services. Health care base funding is also set to increase from $85 billion to $89.9 billion by 2026-2027. The Canadian government is set to present its budget on April 16, 2024, with a keen focus on attracting first-time voters and tenants. A "RENTERS BILL OF RIGHTS" IS EXPECTED TO SUPERSEDE THE ONTARIO RESIDENTIAL TENANCY ACT. THIS NEW BILL IS ANTICIPATED TO COMPLICATE MATTERS FOR LANDLORDS WHO ARE ALREADY FACING CHALLENGES WITH DIFFICULT TENANTS. Additionally, to counter the appeal of the Progressive Conservatives among young voters, THE UPCOMING BUDGET WILL INTRODUCE SUBSTANTIAL INCENTIVES FOR FIRST-TIME HOMEBUYERS AND CERTAIN SEGMENTS OF THE PUBLIC.

Very pleased my two motions to Aberystwyth Town Council last month were passed. Particularly my motion to "Support and Encourage Ceredigion County Council's Lobbying Efforts for a Fairer Funding Formula from the Welsh Government." Here's my motion in full - and I hope other councils across Ceredigion might feel the same way. This Council notes with concern that the current funding formula used by the Welsh Government to allocate financial resources to local authorities is disproportionately affecting Ceredigion County & Ceredigion County Council. The formula, as it stands, has resulted in a significantly lower percentage of funding for our county, which is detrimental to the economic, cultural, and educational wellbeing of our communities. This Council further notes: 1. The unique demographic and geographic characteristics of Ceredigion, which require a funding model that adequately reflects the challenges faced by rural and less densely populated areas. 2. The potential long-term impacts on Ceredigion’s economy, culture, and education system if the current funding formula remains unchanged, including the risk of declining public services and infrastructure. 3. The importance of ensuring that Ceredigion receives a fair share of funding that is commensurate with its needs, allowing the county to thrive and continue to offer high-quality services to its residents. This Council resolves to: 1. Express its full support for Ceredigion County Council's ongoing efforts to lobby the Welsh Government for a review and revision of the current funding formula. 2. Urge the Welsh Government to take immediate steps to engage with Ceredigion County Council and other relevant stakeholders in a meaningful dialogue aimed at establishing a more equitable funding model. 3. Encourage other town and community councils within Ceredigion to also support and amplify the call for a fairer funding allocation that better reflects the needs and circumstances of our county. 4. Request that the Town Clerk writes to the relevant Welsh Government ministers, local Assembly Members, and Members of Parliament, conveying this Council’s position and urging them to advocate for a change in the funding formula that will benefit Ceredigion. 5. Continue to monitor the situation and collaborate with Ceredigion County Council to ensure that the interests of Aberystwyth and the wider county are represented in all discussions regarding funding allocations.

There is a lot to digest for Professional Planners and municipal leaders in yesterday's announcement of the 2024-2025 Provincial Budget. The "More Housing, Faster" section includes; - $80-$100 million estimated annually to rebate the 10% provincial HST on the new construction of purpose-built, multi-unit apartments - $27.1 million for NSCC student housing projects at various stages of development (Capital Plan) - $14.8 million this year for Nova Scotia projects to leverage funding from the National Housing Strategy 2022-25 Action Plan - $5 million to expand the $28.6 million Affordable Housing Development Program to include student housing project proposals - $3.6 million for a rapid housing initiative to develop new affordable housing units in Halifax - $35.3 million to build new public housing units and for more repairs and maintenance to existing public housing (Capital Plan) - $11.8 million for a new investment in modular public housing (Capital Plan) Take a detailed look at everything announced here: https://lnkd.in/dapd7Vm Association of Municipal Administrators Nova Scotia (AMANS), Nova Scotia Federation of Municipalities, Construction Association of Nova Scotia

Back-to-School Checklist: Don’t Forget Estate Planning! As the kids head back to school and you check off the last-minute to-dos, there’s one more essential task to add to your list: estate planning. From choosing guardians to setting up trusts and healthcare directives, estate planning ensures your children are protected no matter what life throws your way. Ready to add peace of mind to your back-to-school routine? Read our latest article to learn how to safeguard your family’s future today! #EstatePlanning #BackToSchool #FamilyFirst #PeaceOfMind #ShoupLegal

Last Tuesday, the NHS Homes Alliance co-hosted a roundtable with The Good Economy to discuss how to finance the delivery of affordable homes for NHS key workers that would alleviate the crisis of staff recruitment and retention. Key stakeholders, including NHS England, NHS Trusts and private investors came together for a solution focussed conversation. Sarah Forster (Chair) and Mark Hepworth from the The Good Economy opened with an introduction to Place-Based Impact Investing. Sarah Hordern and Roli Martin BSc Hons FCA then outlined the scale of the problem, the benefits of a national solution and a proposed financing approach. These financial principles, first presented in the NHS Homes Alliance White Paper, envisage NHS retaining land whilst attracting long-term investment from private investors to deliver homes. The conversation helped stakeholders understand each other's constraints and explore funding solutions. Key topics included: - How to develop a funding model that can be scaled nationally but works locally - The need for finance that includes debt and equity - The need for low-cost, long-term capital - The nature of lease agreements and risk sharing - Importance of building NHS Trusts capacity to carry out long-term master planning for housing - The role of developers in designing schemes that deliver - not just homes - but sustainable communities. It was an important conversation, with a high level of engagement. The need to align interests was recognised, as well as to co-create a collaborative solution that brings together NHS Trusts and Integrated Care Boards, Homes England, investors and developers. We would like to thank everyone for their open and constructive contributions, and thanks to Ellie Sharpe and Perkins&Will for hosting at their impressive new offices. #AffordableHomes #HealthWorkers #KeyWorkers #NHS #NHSTrusts #PBII #PlaceBasedImpactInvesting #NHSHomesAlliance

Love and our future - a Valentine’s Day note. Budgeting and prioritizing - being I have driven in every major city in Canada other than the territories - I always enjoy learning how different places do things differently. I’ll be the first to admit N.S. has one of the best highway infrastructure systems. Edmonton would be at the top as well. Here’s the concern for me. NS has budgeted another $483 million on roads alone https://lnkd.in/e7v2fQtf. 2.5x times the school budget and similar to health care budget. Really, are roads more important than health and education?! Here’s some data: - BC budget is similar as NS for highways and roads. In fact BC includes their operating costs. https://lnkd.in/eMvCvYMF plus BC is spending $343 million on public transit. - BC is 17x the size of N.S. - BC’s population is 5x that of N.S. So please help me understand how black asphalt is more important than healthcare and our future through education?! Sigh. The financial advisor in me just shrugs, looks at the ground, and kicks stones with hands in pockets when I see where our priorities are nowadays. To those who care - please help prioritize kids and health. In the end of our days that’s what will matter most. Trust me, I talk with people everyday about this. Love and our future - what our impact was is one of the biggest concerns when the decades ahead become the minutes we appreciate. Happy Valentine’s Day. May your day have love in it. Go make someone smile. #futureleaders #health #prioritymanagement Jay

Friends – On behalf of Joel Swider and myself, below is our weekly health care real estate briefing: 1. Massachusetts has proposed legislation to restrict health care private equity transactions. The bill covers traditional corporate transactions and hospital sale-leasebacks with real estate investment trusts (REITs). The legislation was proposed in light of the Steward Health Care bankruptcy. 2. Kentucky officials held an open forum in June to determine if changes to the state’s Certificate of Need (CON) law should be made. Proponents of change argued that certain communities need greater access to health care. Opponents argued that modifying CON laws could harm safety net providers. 3. Residents living in senior housing communities have a lower rate of admission to emergency departments when compared to seniors living in the community at large according to a recent National Investment Center for Seniors Housing & Care (NIC) study. 4. A new article looks at private equity’s (PE) role in the assisted living (AL) industry and argues that it’s different from other health care sectors because: 1) the AL industry is primarily private pay; and 2) AL communities have historically been funded by private investors without any government funding. 5. Hall Render published an article on the importance of recording a memorandum of lease. In some states, a tenant’s rights can be placed in jeopardy if the property is sold and the buyer did not have notice of the lease. 6. Texas Governor Greg Abbott announced seven new state hospital projects that will be funded by a $1.5B state allowance approved in 2023. The projects will be in Amarillo, El Paso, Harlingen, Lubbock, San Antonio, Terrell and Wichita Falls. 7. Banner Health has over $1B in construction projects planned in Arizona including a $400M hospital campus in Scottsdale, expansion of Banner MD Anderson Cancer Center, construction of a rehabilitation hospital in Tucson, a new bed tower at Thunderbird Medical Center in Glendale, an expansion of Estrella Medical Center in Phoenix and an expansion of the Banner Health Center in Buckeye. 8. Since 2010, 149 rural hospitals have closed in the U.S. Texas and Tennessee have had the most rural hospital closures. Ways to repurpose shuttered hospitals include converting them to medical clinics, educational facilities and technology facilities. 9. The following health systems had credit upgrades: CommonSpirit Health – Baa1 to A3 (Moody's Ratings’s); NYU Langone Health – A2 to A1 (Moody’s); and Prime Healthcare – BBB to BBB+ (Fitch Ratings). 10. Colliers released a new report on behavioral health (BH) assets. Key takeaways: 1) 770 BH facilities exist in the U.S.; 2) most BH assets are 50 years old; 3) Louisiana has the lowest number of facilities per population and Iowa has the highest number; 4) average sale price for a BH is $273 per sf; and 5) the most active buyers in recent years have been Medical Properties Trust and Sabra Healthcare REIT.

GPR perspective-Long Term Strategy- similar to other countries on a global scale. The fact that no new aged care beds are being built in Australia , for at least 5 years therefore there appears to be a greater incentive to build and grow the Retrement Village model with home care integrated particularly if these residences can be incorporated into the government new housing build plan. If my analysis is correct this will drastically change the village (and LLC) value proposition. Other insights attached-Source