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Province to Guarantee Cassellholme Loan

October 22, 2021

NORTH BAY – Today, Nipissing MPP Vic Fedeli announced that the Province of Ontario will be guaranteeing its portion of the loan for the expansion of Cassellholme in North Bay.

The Loan Guarantee provided by the province will last for the entirety of the loan period (~25 years) and will allow Cassellholme to progress to the next stage of the project.

“We recognize that resolution of this financing issue was crucial in enabling the building of the 264 long-term care home, to provide much needed services for Northern and Indigenous communities,” said MPP Fedeli. “During these discussions our government heard loud and clear from the municipalities and we listened to their concerns regarding the impacts of the loan guarantee.”

“On a personal note, I deeply appreciate the collaboration of both Minister Rod Phillips, Minister of Long-term Care and Minister Kinga Surma, Minister of Infrastructure, in the huge role they played to resolve the financing issue. They know that supporting Cassellholme’s redevelopment will improve and increase long-term care capacity in Northern Ontario,” added Fedeli.

Ontario is making great progress on the $2.7B commitment to build 30,000 net new long-term care beds by 2028.

Cassellholme, is an important part of this province-wide expansion. In 2018, the province approved an additional 24 beds for the home, and announced $55M in funding.

Last October, an additional $10M in funding was announced, as the 24 new beds would include an Indigenous unit and specialized dementia care.

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