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Beaver THE OAKVILLE Voted Ontario's Top Newspaper Four Years in a Row - 2005, 2006, 2007, 2008 www.brantflorist.com/ob www.dentistoakville.com 905-842-6030 www.carstaroakville.com 905-8457579 905-847 -2595 2212 Wyecroft Rd. 547 Trafalgar Rd. 905.639.7001 HALTON TRANSMISSION (905) 559 SPEERS ROAD, UNIT #3 Go Garrett go SPORTS 842-0725 A member of Metroland Media Group Ltd. Vol. 48 No. 37 "USING COMMUNICATION TO BUILD BETTER COMMUNITIES" THURSDAY, APRIL 8, 2010 32 Pages $1.00 (plus GST) Staff propose new funding scheme for hospital By David Lea OAKVILLE BEAVER STAFF Scouts clean up Town staff is recommending council approve a $200-million contribution to help construct the new Oakville hospital, subject to a few conditions and funding arrangements. The discussion, during Tuesday's council meeting, was held so council could discuss the listed options, hear from residents and bring forward any questions they need answered before Monday, April 19, when council will decide whether to make the $200-million contribution to the Halton Healthcare Services (HHS) project. In a presentation before council, Town CAO Ray Green recommended the $200 million be made more manageable by breaking it into chunks including a $130-million payment that would be due when the hospital is substantially complete at the Third Line and Dundas Street location in 2015. Another $40 million would be used to fund the life cycle costs of the hospital over a 30-year concession period. Green said staff is confident this amount could be raised without impacting property tax. Another $30-million payment will only be considered at the time of the project's financial close as both Green and Halton Healthcare Services do not expect that this money will be needed. Green said staff will look into ways to minimize the borrowing money for these payments, which could include using money from the sale of Blink Communications and possibly selling other Town assets. Halton Healthcare Services has agreed to this restructured proposal and says the Ministry of Health and Long-Term Care is expected to agree by April 16. Staff has also attached a number of conditions to the Town going through with this deal including: · that HHS achieves commercial close for this project by March See Town page 3 NIKKI WESLEY / OAKVILLE BEAVER BUSY DAY: Scout Rayyan Chanda collects garbage around Iroquois Ridge Community Centre and Iroquois Ridge High School during the cleanup hosted by the 1st AFC Scouts and Cubs and Alfalah Islamic Center Oakville on Friday afternoon.They also cleaned Postridge Park, Millbank Park and Glenashton Park in Oakville and the South Common Woodlot in Mississauga.