Members of the public are invited to share their feedback about a proposal to borrow $9.5 million to invest in a future personal care home and age-in-place campus.
The Town of Stonewall will host a public hearing on Wednesday, Aug. 20 at 7:30 p.m. in the council chambers, and a virtual attendance option will also be available.
The age-in-place campus is planned for a site east of 4th Street East, extending from 3rd Avenue South, on land owned by the Town of Stonewall. As part of the campus, the town has committed to providing a fully serviced five-acre parcel of land to the Interlake-Eastern Regional Health Authority and the provincial government the development of a personal care home.
The proposed investment would go towards servicing 21 acres of land for the project, including sewer, water, roads and land drainage. The sewer infrastructure would be supported by private sector investment, along with the contribution from the town.
The borrowed funds would also go towards buying up to 31.5 acres adjacent to the age-in-place campus for future land use planning.
The town points to benefits that include commercial and retail development, which could lead to new jobs, services and amenities in town.
The town also anticipates that a portion of these investments would be offset over time by future development revenue and property taxes.
Pending approval of the borrowing bylaw, the $9.5 million would be borrowed over a 20-year repayment term with a maximum interest rate of 7.5 per cent annually. The annual repayment would be up to $931,875.82, including the general municipal levy.
More information is available on the Town of Stonewall’s website at stonewall.ca, and paper copies are available at the town office or by calling 204-467-7979.
