Bonds endorsed, with caution

The province’s plan to sell bonds to raise money to provide care and build housing for seniors is being praised.

The province’s plan to sell bonds to raise money to provide care and build housing for seniors is being praised.

But using that money for public/private partnership projects would be “totally unacceptable,” says the president of the Central Alberta Council on Aging.

Last week, the province announced it wants to raise $100 million by selling Alberta Capital Bonds to help build long-term care and supportive living facilities, lodges and group homes for seniors.

“Bonds are good as long as they are spent on public buildings and public services — not P3s to create a profit and opportunity for some other corporation,” said Sam Denhaan.

Alberta Capital Bonds are expected to be available for purchase from financial institutions and investment advisors by mid February.

That means before money is even raised, private companies like banks and investment businesses will be benefiting, he said.

“What about Alberta Treasury Branch? They could be the dealers and it wouldn’t cost anything.”

Public health-care advocates have always supported using government bonds to build infrastructure such as hospitals and long-term care. But the province seems set on privatizing seniors care, he said.

“It is so interwoven with private interest.”

And transparency to show how public money is being spent is lacking, Denhaan said.

Alberta Capital Bonds will support the province’s Aging in the Right Place vision to improve the availability of seniors accommodations.

Housing and supports available through capital bond funds are expected to become operational in 2012.

Final details, including interest rates, will be provided closer to the time the bonds are issued.

Just Posted

Gasoline Alley Harley Davidson hosts 7th annual Toy Run

Bikers jumped on their motorcycles this weekend to help make Christmas better… Continue reading

Innisfail RCMP locate drugs during traffic stop

A Rocky Mountain House man is facing charges after Innisfail RCMP located… Continue reading

Expert says acquittal of Alberta parents in boy’s death unlikely to set precedent

CALGARY — A law professor says the acquittal of an Alberta couple… Continue reading

Take Back the Night rally marches through downtown Red Deer

Dozens marched through the city’s downtown chanting, “Red Deer unite, take back… Continue reading

Houston area sees relief, rescues after Imelda leaves 4 dead

HOUSTON — Emergency workers used boats Friday to rescue about 60 residents… Continue reading

Your community calendar

Tuesday Bower Place Community Association Seniors Card and Coffee party at 1:30… Continue reading

Missing hiker found safe after spending night on North Vancouver mountain

VANCOUVER — Rescue crews have found a missing female hiker safe after… Continue reading

Trudeau was only one in dark makeup at 2001 party but nobody took offence: attendee

VANCOUVER — A man who attended an “Arabian Nights” gala held by… Continue reading

McKenna defends Canada’s climate credibility amid Trudeau controversy

OTTAWA — Liberal cabinet minister Catherine McKenna says Canada still has credibility… Continue reading

Blue Jays rookie Bo Bichette trying to “be smart” with head injury

NEW YORK — Blue Jays rookie shortstop Bo Bichette says he’s feeling… Continue reading

Climate activists step up protests in Britain and France

PARIS — Environmental activists in Britain and France stepped up campaigns Saturday… Continue reading

Man from Winnipeg who was hiking alone found dead in Banff National Park

LAKE LOUISE, Alta. — A hiker has been found dead in Banff… Continue reading

Singh campaigns in Toronto, May in Winnipeg, as Liberal and Tory leaders pause

OTTAWA — Jagmeet Singh and Elizabeth May are continuing on the campaign… Continue reading

Most Read