Planned redevelopment of the H.J. McFarland Memorial Home is set to proceed.
During Thursday’s Committee of the Whole meeting, Prince Edward County Council heard a report about the finances of the project.
During the 2024 budget process, the redevelopment was approved on the condition that an additional source of funds was needed to help support the cost. The provincial government has announced another round of time-limited construction funding subsidy, which would provide the needed funding. Municipal staff are now recommending the project proceed.
In order to qualify for $29.2 million upfront subsidy (from a total $82.6 subsidy over 25 years), the project must be shovel ready by November 8 including site plan approval, building permits, a tendered construction package, and confirmation of debt financing. The build is estimated to cost $97.4 million and even with the additional upfront provincial money the county would still have to raise $33.8 million.
Councillor Phil St-Jean said deciding to proceed with the redevelopment was tough, as the project is still costly even with the provincial subsidy.
“We have a growing population and it’s an aging population,” said Councillor St-Jean. “Do we want to see our our elderly who spent most of their lives here have to go to Bancroft, have to go to Kingston or wherever? And the challenges and the struggles that puts on on local families?”
The existing home is at the end of its useful life. Built in 1974, it has been in service for 50 years.
The planned redevelopment will be 114,000 square feet, which is just over double the size of the current home, and will have 160 beds for residents which almost double the number it currently has.
The committee passed a motion directing staff to continue with the project, and sent the resolution to the next council meeting for final approval.
