Lerch, Early & Brewer's Legal Update
The Village at Orchard Ridge, Inc., (“TVOR”) an affiliate of The National Lutheran Home for the Aged, a long-time client of the firm, recently began accepting deposits for its new Continuing Care Retirement Community to be located in Winchester, Virginia. The Community will include independent living residences consisting of apartments, carriage homes and cottages, as well as assisted living residences and skilled nursing beds. A Town Square will have a number of amenities, including a chapel, dining room with bar, mail room, library, games area, spa and beauty salon. The execution of deposit agreements for the project is the culmination of several years of effort. Cindi Cohen, Ted Goldstock and Robby Brewer have been working with TVOR and its team of consultants, since 2006 to reach this milestone, beginning with identifying an appropriate site for the facility, negotiating the sales agreement, obtaining the required land use approvals, financing and closing on the acquisition of the property, preparing and filing an application for exemption from federal income taxes, and preparing and filing the required disclosure statement with the Virginia Board of Insurance. Construction of the Community is anticipated to commence in the fall of 2011 and is expected to take approximately two years to complete.