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Council approves dipping into reserves to cover Hospice DCs

Posted May 8, 2018

New Tecumseth will draw $165,620 from the tax rate stabilization reserve to cover the development charges owed by Matthews House Hospice for construction of its 10-bed facility in Alliston.

Matthews' DCs, due June 1, were calculated based on a 10- bedroom facility at the 1- bedroom apartment DC rate of $16,562. The Town also previously exempted Matthews from the Cash in Lieu of Parkland of approximately $50,000.

The estimated December 31, 2018 balance in the reserve (prior to any potential projected 2018 surplus/deficit) is $1,573,332.

Matthews House Hospice - Centre of Excellence is expected to be open before summer.

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All stories, unless otherwise noted,
by Tony Veltri