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dB; Uy Y04t JJOby4 h'Ulir'k_i_ 1'_, 1 "'A ')-. <br />EXHIBIT 1.1 <br />SUMMARY 4F REQUIRED AGE 75+ <br />ASSISTED LIVING PENETRATION RATS IN <br />THE PRIMARY MAR+�C�T AREA lPMA1 <br />1999 Time Frame <br />y <br />60 Assisted <br />_ . Factors/Assumptions _ Living Units <br />Total New Units to be Developed 60 Units <br />Less Vacancy Factor of 7% Lj <br />Sublotal 56 <br />Estimated Percentage of Units to be <br />Absorbed From the PMA <br />)(70% <br />Net Units Required to be Absorbed Within PMA <br />39 <br />Estimated Absorption From Age 75+ Households <br />x 100% <br />Total Units to be Absorbed in PMA <br />39 <br />Required Age 75+ Penetration rates Eased <br />on Qualifying Aftdr-Tax Cash Flow Income <br />and the Estimated Impact of Home Equity: <br />• @ $40,000+' Total Units to be Absorbed In PMA <br />39-2.0% <br />Net Age/Income +Qualified. Households <br />1,915 <br />• @ 545,000+' Total 'Units to be Absorbed In PMA <br />_ ,39 = 2.4% <br />Net AgelIncome Qualified Households <br />1,642 <br />• @ $50,000+' Total Units to be Absorbed In PMA <br />_ _39 = 2.8% <br />Not Ago/Income Qualified Households <br />1,374 <br />80 Assisted <br />Living Un�ks <br />80 Units <br />10 <br />74 <br />xx70% <br />52 <br />x 100% <br />52 <br />_52 ^ 2.7% <br />1,915 <br />--U • 3.2% <br />1,642 <br />_� = 3.811,16 <br />1,374 <br />Source, MOS Analysis <br />'Reto to Fxhlbds A-1 through A-6 in ADpvnd x A of mis roprsrt -'or the detaJad 41%,stod tninq <br />penetrabon rete' rpo"s <br />