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A-6 <br />Transitional Care/Skilled Nursing Units <br />The current daily rate for the different type of rooms and payor sources for the skilled nursing/transitional <br />care unit are shown in the table below. <br />Room Type <br />Number <br />of Beds <br />Room Size <br />(Square <br />Feet)Daily Rate <br />Transitional Care/Skilled Nursing <br />Private - Medicare 32 360 $625 <br />Medicaid/3rd Party/HMO 18 360 580 <br /> TOTAL 50 360(1)$609(1) <br />(1)Average <br />Source: The Borrower <br />Staff <br />When the 2020 Project portion of the Campus becomes fully operational, the Borrower expects to employ <br />approximately 85 full-time employees. Neither the Borrower nor PHS has contracts or expects to contract with <br />labor unions and neither is aware of any organizing activity involving any group of their employees. <br />Licensing <br />The Project will be required to comply with local regulations (which may include licensing) regarding <br />multi-family senior rental housing, as well as state and local regulations concerning particular services which will or <br />may be offered at the Campus, including restaurant operations, a hair salon, and therapies. <br />Insurance <br />The Project will be covered under PHS’s comprehensive insurance program. PHS carries insurance <br />covering properties (buildings and contents), business income, business autos, errors and omissions, data privacy <br />and security, environmental hazards, employment practices, directors and officers, employed lawyers’ services, and <br />professional and medical services in each case, in the opinion of management, in amounts and providing coverage <br />which is reasonable and customary in the senior housing industry. PHS self-insures worker’s compensation claims <br />and employee health claims and has purchased re-insurance for its self-insurance programs. <br />No Litigation <br />As of the date of this Official Statement, there is no litigation pending or, to the Borrower’s knowledge, <br />threatened against the Borrower. <br />Medicaid/Medicare <br />The transitional care unit intends to participate in Minnesota’s Medical Assistance (i.e. Medicaid) program <br />and the federal Medicare program. <br />Construction <br />The construction of the 2020 Project will have duration of 14 months once all demolition is complete and <br />will proceed pursuant to the following time line: <br />Relocation of residents to new transitional care unit Mid-February 2020 <br />Abatement and prep for demolition activities to start Mid- <br />February 2020 (includes removal of FFE, Abatement, Hazardous <br />Material removal) <br />______, 2020