Eastern Kentucky University and the City of Richmond are partnering to bring an assisted living community to the Madison County campus. It’s expected to benefit seniors while also providing educational and employment opportunities for Eastern students.
Plans call for the assisted living facility to be developed, owned, and operated by a private enterprise.
EKU Vice President of Engagement, Regional Stewardship, and Government Relations David McFadden says the housing site is expected to house about 100 seniors. “All those individual participating in the potential assisted living facility will be low income and Medicaid eligible. So they will be using a Medicaid waiver in order to participate in the assisted living facility that we are looking to construct,” said McFadden.
The city of Richmond will forego its resulting share of payroll taxes for 20 years through the establishment of a Tax Increment Financing Local Development Area. The assisted living complex is expected to employ about 60 people, many students in areas like nursing, occupational therapy, and recreation. Plans call for the project to be completed in 2021.