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BOA M-inutes July 6, 2017 Pg #6 Presentation by Don Feltman, President S CEO ARTIS Senior Living Don Feltman introduced himself. I've had the privilege of serving as President and CEO of ARTIS Senior Living. Mrs. Jeanblanc said, I didn't know if this is all private. What percentage of the residents in other similar facilities are covered by insurance, specifically for these facilities? Mr. Feltman replied, in terms of our residents and the insurance, a number of them have long teim care insurance. People of all ages as they get older consider that. A lot of them are achtally purchasing it. Mrs. Jeanblanc said, but not all long term care insurance policies cover this. Mr. Feltrnan replied, not all of them but many of them do because it's a lower cost tlian being in a Nursing Home. For long term care insurance it's -cheaper for them to fund an Assisted Living level for Medicare than a Skilled Nursing level for niarsing care. A couple other factors to consider aze if you're a Veteran that served your country, the VA also pays a portion of the caze. In addition to that, when it comes to dedicated Memory Care Communities, the IRS if you meet certain criteria for a fully dedicated cammunity, it becomes 100% tax deductible. All those factors play in. Not just for our community, but any other Memory Care Community that would be in existence as well. . Chairman Presla asked, I assume you're looking at more than just this site in Northeast Ohio in terms of demographics? ' Mr. Feltman replied, this is the one that we have under contract right now in Northeast Ohio. We have two operating in Cincinnati, also considering one in Columbus. I'm a Buckeye, grew up a few miles from here actually. To me, it's pretty meaningful being home, near where I grew up. Mr. Michalko asked, with all these places that you've done, how many aze at full capacity? Mr. Feltman replied, the ones that are open for more than 2%z years generally are running 85% to 95% occupancy. We have those that have been open at least three years running 95% to 100%. Mr. Feltrnan states, ARTIS has been in existence for five years. Thomas and I used to work with another company where we essentially helped design back in 1993/94 dedicated Memory Care Assisted Living Communities. Before that my history goes back a long ways, I've been in long term care for 40 years. I started part time when I was in college for a company called Manor Care. We worked in the early 80's with Johns Hopkins University in designing units in Skilled Nursing Communities where we found the term Alzheimer's and the teim dementia was not well lanown back then. The population was physically more capable of activity than the rest Lilf of the population but mentally they were disoriented. The rest of the population would be physically somewhat limited or impaired but mentally much sharper. So we worked with Johns