The awarding of a national grant has pushed the Croy Canyon Ranch Foundation closer to its goal of the $13.5 million needed to construct a new retirement community west of Hailey.
The foundation is the recipient of a grant from the Delaware-based Chichester duPont Foundation, an organization that awards grants for programs focused on health care, education and the environment.
Kathleen Eder, executive director of the Croy Canyon Ranch Foundation, said Sun Valley resident Chris duPont approached the foundation and suggested that the Chichester duPont Foundation might be willing to donate.
DuPont's daughter, Emily, was raised in the valley and currently sits on the Chichester duPont Foundation's board.
"We are so grateful to receive the support of a well-regarded national foundation," said Anita McCann, campaign chair for the Croy Canyon Ranch Foundation.
Eder said she could not release the amount of the foundation's most recent grant, but that fundraising was proceeding as planned. So far, $3.5 million in donations has been received for the new facility, which is set to take the place of the existing Blaine Manor skilled-nursing facility.
"We're doing really well," she said. "If all goes well, we'll break ground in spring of 2012."
Eder said she hopes to complete fundraising by next fall to stay on track to open the facility in January 2014. The foundation is responsible for contributing $13.5 million to the cost of the $30.8 million facility. The remainder will be funded via proceeds from the sale of Blaine Manor, the county-owned nursing home in Hailey, and anticipated entrance fees for residents in the independent-living apartments that the ranch will offer.
While the manor currently operates under a deficit, covered by a voter-approved levy, Croy Canyon Ranch will operate on a tiered model, under which revenue from residents who only require minor assistance or who live independently will help cover the expenses for those patients who require skilled nursing.
All Blaine Manor residents would be transferred to the new facility.
Katherine Wutz: email@example.com