By Stephen Vance, Staff
As construction of Meaford’s new medical centre on Highway 26 nears completion, the organization building the new facility has asked council to consider extending a line of credit to bridge the gap between funds raised and funds required to complete the project.
Meaford has pledged $250,000 over 10 years toward the project, and it is donations such as those that have the North East Grey Health Clinics Inc. in a bind.
Brian Adamson, chair of the board for the organization, made the plea to council, explaining that while roughly $2 million has been raised thus far, this means that there is less than $300,000 left to be raised. However, many of the construction bills will need to be paid before pledged donations fully flow in. Some $523,000 of the funds raised will be received over a number of years.
Adamson asked council to consider a $465,000 line of credit, which would allow the organization to pay invoices as construction is completed and to purchase equipment and furnishings for the facility.
Adamson noted that a similar arrangement was made with the Town of the Blue Mountains as their medical centre was nearing completion, and he said that the line of credit would be paid off quickly.
Meaford Treasurer Darcy Chapman told council that he would provide a report to council that will explain how such an arrangement could be reached.
The Don Bumstead & Family Medical Centre will have space for four doctors, one of which has already been confirmed and has moved to the community and is settling in awaiting the completion of the facility in order to establish his new practice.
