McGuinty government helps renew public infrastructure in St. Thomas

Archived Release

McGuinty government helps renew public infrastructure in St. Thomas

Ministry of Finance

New Long-Term Care Home Being Built Through Low-Cost, Longer Term Loan ST. THOMAS, ON, Dec. 20 - The McGuinty government's plan for infrastructure renewal has resulted in an $18 million low-cost loan to help finance a new long-term care home in St. Thomas. The loan was announced today by Ontario Minister of Finance Greg Sorbara and Steve Peters, MPP for Elgin-Middlesex-London and Minister of Agriculture and Food and has been approved by the Ontario Strategic Infrastructure Financing Authority (OSIFA), an agency of the Ministry of Finance. "OSIFA's low-cost financing will improve the living conditions for a number of St. Thomas' seniors," said Sorbara. "Our actions reflect the government's commitment to helping St. Thomas and other communities across Ontario with their infrastructure challenges." Earlier this year, the City of St. Thomas applied for the loan from OSIFA. This loan will be used to build the Valleyview Home for the Aged that is under construction on Burwell Road. The new building will replace the old facility on Elysian Street. "Our government knows that cities like St. Thomas become stronger when their infrastructure is renewed," said Peters. "By offering a low-cost, longer- term loan, our government is helping the City of St. Thomas to finance the kinds of crucial facilities that provide the people of this city with a quality of life that is second to none." Disponible en fran├žais. www.osifa.on.caFor further information: Michael Arbour, Minister Sorbara's Office, (416) 325-4138; Jamie Rilett, Minister Peters' Office, (416) 326-6439