Local taxpayers responsible for 21% of the $1.579 billion cost of the new tower
The Fraser-Fort George Regional Hospital District board of directors will vote on a capital expenditure bylaw to authorize $318,712,000 in funding for the new patient care tower on Sept. 12.That budget was approved and formally announced last month.
This includes $5 million for the business plan, $41,288,000 for the early works agreement and $318,712,000 for the patient care tower. While regional hospital districts usually contribute up to 40 per cent of the total capital expenditure for projects that benefit residents within their boundaries, the contribution of $365 million, or 21 per cent of the total, came after negotiations between the board and the province.
Revenue comes from local property taxes. As well, under the Hospital District Act, regional hospital districts can borrow funds for capital investments without requiring elector approval.
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