N.S. quadruples housing development fund, approves its use for health-care facility loan
Opposition leaders say the fund should be focused on housing
Opposition leaders are criticizing a move by the Nova Scotia government that quadruples the borrowing limit for the housing development fund and allows it to offer a loan to the developer of a health-care facility.
The order-in-council, which was signed off on last week, increases the borrowing limit for the fund to $630 million from $154 million.
It also expands the ability of Housing Minister John Lohr to use the fund for the province’s “current transitional-care facilities commitments.”
The only such commitment is Hogan Court, a former hotel construction project in West Bedford. The province bought the unfinished hotel from a developer to convert into a site for hospital patients who are recovering or waiting for a long-term care placement, but no longer need an acute care bed.
Earlier this year, the province accepted an unsolicited proposal from long-term care provider Shannex to buy the building, complete renovations and operate the site when it is finished. …[Continue Reading]