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COMMONLY ASKED QUESTIONS

Q: Why is Prospect Park Residence closing? Following more than 15 years of operation in Brooklyn, and after careful consideration and evaluation, the owners and operators of Prospect Park Residence have determined that it will surrender its operating license to the Department of Health. This was not an easy decision. Since 2009, Prospect Park Residences ownership and management have taken extraordinary steps to ensure a stable and predictable environment for its residents and staff by foregoing profits and absorbing costs. However, five years later, in many regions the economic recovery remains sluggish and their tax obligation has sky-rocketed increasing by nearly $1 million. When this property was purchased by the current ownership group in 2006, they never anticipated the challenges they face today. And, despite their best efforts, Prospect Park Residence is no longer viable.

Q: What is the timeline for closure? The New York State Department of Health has authorized closure of Prospect Park Residence in keeping with its legal requirements, regulations and procedures. Effectively immediately, Prospect Park Residence is unable to accept new residents. While individual circumstances, preferences and availability of appropriate accommodations will undoubtedly impact schedule, Prospect Park Residence anticipates that it will surrender its license to legally operate in approximately 90 days.

Q: How long has closure been contemplated? Not until the latter part of 2013, was closure considered. A Closure Plan was submitted to the New York State Department of Health and it was approved last week. Todays information session is the first step in a process that the Department will actively monitor.

Q: What is a Closure Plan? As a licensed Assisted Living Residence, Prospect Park Residence is required to submit a Closure Plan to the New York State Department of Health, which will serve as a step by step guide to ensure the health and safety of residents throughout the transition period. This includes: notifying employees and residents; ceasing new resident admissions; and assisting existing residents with relocation efforts, ensuring they are transferred to appropriate residential options. This also includes the Departments participation in todays meeting. Prospect Park Residence completed its Closure Plan in January 2014. It was approved by the Department last week and todays information session is the first step in the process, which the Department will actively monitor.

Q: How will alternative living arrangements be identified? The Prospect Park Residence team plans to begin working with you immediately to aid in residential relocation efforts. A questionnaire, included in your handouts, is designed to help you assess various residential options and conditions that are most important to you and your family. These include fundamentals such as such as level of care, location, and budget considerations. This tool may be used to begin your own search or, once completed, brought to a meeting with a member of our team for further discussion prior to beginning a search. It is important to note that until todays sessions were held, Prospect Park Residence was prohibited from investigating or disclosing to other residential operators knowledge of closure. Tomorrow morning, Prospect Park Residence will be reaching out to other residential options to inform them of the closure plan and schedule immediate information session for residents and representatives in the coming weeks.

Q: Will Prospect Park Residence be available to assist me in learning about available residential options and opportunities? Prospect Park Residence is committed to being a resource to its residents and their representatives. Over the coming weeks and months, our team will be available to work with you on a one-on-one basis to help evaluate your individual needs and preferences, and examine the available resources in the community. This team includes many of the same people you have relied on for individual services and support such as: David Pomerantz, Kathy Azbell and other designated staff members.

Q: If I pursue my own options, will I continue to have access to Prospect Park Residence resources? Whatever level of involvement you desire from our team is your choice. We are obligated and wish to maintain regular communication with residents and their representatives in order to facilitate and report each residents relocation plan to the Department of Health. Prospect Park Residence is committed to making sure that each of you has the information, and time necessary to relocate in as seamless a manner, as possible.

Q: What is happening to Prospect Park Residence staff? We have advised the entire staff of the circumstances and advised them that their employment will cease upon closure. We have also extended an incentive to all of our employees and encouraged them to continue as part of Prospect Park Residences team until our last resident has been transferred. A number of employees have been with us on a long-term basis, and we are prepared to offer additional support, resources and recommendations to those who have served us with distinction. While many our considering their options, a number of our key team members have indicated that they will remain committed to our mission through the transition.