Oakville council has approved funding the new hospital. Oakville will contribute $200 million to Halton Healthcare Services (HHS). The contribution includes:
- $130 million payment due when the hospital is open and operational in 2015
- $40 million paid over the next 30 years
- $30 million paid at the project’s financial close (only if deemed necessary by the council at that time)
All councillors approved the funding except Ward 3 Town and Regional Councillor Keith Bird and Ward 2 Councillor Cathy Duddeck.
One issue that has been voice about funding the new hospital is that the Province refuses to publicly disclose a ball-park figure for the actual hospital costs.
With funding now approved, the project enters the Request for Proposal (RFP) stage. This process will end in the spring of 2011. It will only be at that time that the final facts will be revealed as to how much the hospital will actually cost to build, what services will be available, etc.
Oakville’s contribution has some conditions as follows:
- HHS achieves commercial completion of project by March 1, 2012 including a timely financial close.
- HHS receives Ministry of Health approval for its share of program and services.
- Savings in the local share derived by the RFP and/or change in capital costs can be dedicated from the Town’s portion.
- Town enter into an agreement with HHS regarding disposition of the existing 14 acre OTMH property (including an option for the transfer of this land to the Town for $1).
- Oakville Hydro’s planned energy system is key element to Town’s commitment to its share.
- Equipment as follows be available at the hospital on opening day (2 MRI and 3 CT scanners or 3 MRIs and 2 CT scanners, amd 457 beds.
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