Council awarded a $67 million tender for the redevelopment of the H.J. McFarland Memorial Home last month.
Of four competitive bids, Matheson Construction’s was the lowest to meet all the tender criteria. It also matches the estimated cost of the new build.
To expand and meet new requirements set out by the Ministry of Long-term care, the County is in the process of turning the H.J. McFarland home into a “Class A” facility, nearly doubling the number of beds.
To help pay for redevelopment and operations, the County will receive a provincial Construction Funding Subsidy (CFS) of $82.6 million over 25 years, which has an option to convert $13 million dollars into an upfront Construction Grant. The rest of the money is spaced out over the 25 years, though, while the hefty construction costs are short term.
The County can allocate some Development Charges and has set a fundraising goal of $1 million dollars, but it is also increasing the tax levy 1% this year to help fund the new home.
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