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Make Money Online The Delbarton School monks have said they are cash-poor but land-rich, and they need to develop their land in Morris Township to generate a steady flow of money to secure the financial future of their order and cover retirement costs for their aging brothers.

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Internet Business Opportunity Their solution, a $40 million retirement community on their campus that takes care of residents from retirement until death, will be a moneymaker, generating an estimated $93.86 million in one-time entrance fees and $9.48 million in monthly fees for one year.

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Free Money "It is a lot of money, but that money -- those entrance fees and monthly service fees -- is not a profit. That will cover the expenses to build that development," said the monks' spokesman, Anthony Cicatiello.

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Work At Home Business That debt will be more than $100 million for those involved in the project, he said.

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Free Online Affiliate Program The costs were included in information the monks sent the state to seek permission to market the development. The information sheds light on the expected revenues and expenses associated with this controversial project proposed for the Washington Valley section.

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Auction Coin Money Paper The Benedictine monks at St. Mary's Abbey have named the project Abbey Woods at Delbarton -- a proposed development with 200 apartment-style, independent- living units and 40 independent-living cottages. Space will range from 750 square feet for a one-bedroom flat to 2,200 square feet for a cottage. The plans also call for 48 nursing home units and 24 assisted-living units.

Franchise Business Opportunity The retirement community also will include a common building with dining facilities, recreation and meeting space, a fitness center, swimming and therapy pools and a health clinic. The project will occupy 41 acres of Delbarton's 386-acre campus.

Best Free Online Affiliate A subsidiary of the abbey will own and manage Abbey Woods. It is a nonprofit organization, and that will limit how much actual profit the development can generate, Cicatiello said.

Blogging Money Thebillivard The monks expect it will cost the subsidiary between $9 million and $11 million to run the operation. Any revenue that exceeds expenses will be channeled back into the operation, possibly lowering costs for residents, said Cicatiello and Sean Kelly, vice president of development for Retirement Living Services LLC, the firm that will manage the development's operations.

Best Home Based Business The monks will generate the money they need by charging the subsidiary, Abbey Woods, rent on the land. But what that revenue will be, the monks will not say.

Affiliate Marketing Program "It is not a big profit. That will be paying for those living expenses and health care for those aging monks," Cicatiello said.

Money Site Thebillivard Com The monks are eyeing a summertime marketing effort to attract potential residents interested in buying into the health care community. The costs to join this community -- between $220,000 and $700,000, depending on the residence type -- will not be a hard sell, they say.

Online Business Opportunity "We feel strongly that these ranges are appropriate for this area," said Kelly. "We believe this is going to be a vibrant place."

Pay Per Click Affiliate Residents -- seniors mostly in their mid- to late 70s -- or their estates would be entitled to receive about 90 percent of their entrance fee costs if he or she leaves or dies, Kelly and Cicatiello said.

Cnn Money Monthly fees -- from $2,300 to $4,600 -- will cover debt service, health care expenses, some meals, housekeeping, transportation and operational costs, officials said. If all of the apartment-style units and cottages are snatched up at estimated average entrance fees, the project will generate $93.86 million.

Business Opportunity Lead The Morris Township planning board and township committee approved a master plan revision last year that changed the zoning of the monks' land to allow a retirement community on the property. But several local and state approvals are needed before the monks can break ground. Also, 65 percent of the units must be claimed before any structures can be built, the monks have said.

Affiliate Program Directory The monks need the township planning board's endorsement of the project, and filed plans this year. In order to build, the monks also need the state to approve plans to extend a sewer line from their campus to the Butterworth sewage treatment plant a couple miles away.

Making Money Program The project has sparked an ongoing battle between the monks and their supporters and environmentalists, historic preservationists and others opposed to the development.

Work From Home Business By Bill Swayze
Star-Ledger - 5/18/2003

Topic: Highlands

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