| Capital bonds to give boost to seniors living |
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| Local Content - Local News |
| Written by Trevor Busch |
| Thursday, 25 February 2010 17:40 |
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Increasing community-living options for Alberta’s seniors will be the initial focus of any public funds raised through the province’s new capital-bonds initiative. Little Bow MLA Barry McFarland said funds generated through Alberta Capital Bonds will help build accommodations for seniors who require some assistance in daily tasks and decision making. It will include long-term care and supportive-living facilities, lodges and group homes in various ridings in the province. “I think it’s potentially one of the better things (to spend on) because it’s long lasting, and the number of people in Alberta — it goes without saying is increasing, and that means there’s going to be an ever-increasing demand for that type of housing for the elderly and the seniors. That’s just common sense that it’s going to happen that way.” McFarland encouraged people to consider Alberta Savings Bonds as a safe and profitable way to invest in the province’s future. “It’s something I think that along with infrastructure like highway construction, it’s long-lasting and potentially impacts everyone. So, I think it’s an ideal opportunity for people not only to get some of these needs addressed but also to invest while they’re doing it, and make a little bit of a return, because interest rates are pretty flat right now. It would be quite attractive if somebody had some spare money to invest in something that’s strictly for Alberta. It’s backed by the province — it’s a pretty safe investment.” Debate over how to spend any potential public funds raised through the bonds touched on a number of areas, but in the end government decided upon the present course as the most equitable and beneficial for all Albertans, according to McFarland. “There was lots of debate in the legislature. There was lots of good comments, people saying it’s a good time to use this type of investment for building highways, where you’ve got a limited budget, or post-secondary education. Everyone probably had preferences that they would like to see, but then that would come down to an individual’s situation in their own riding, and that doesn’t necessarily mean that it would be something that would benefit all Albertans. At the end of the day, it comes down to trying to determine something that will in fact help all Albertans, or the majority of them.” McFarland admitted he has no previous point of reference on which to judge a provincial bonds campaign. “I’ve never had the opportunity to experience anything along this line. People that have, apparently some of these things take off pretty quick, and have sold out quite fast, actually.” Just where specific projects will be initiated with any money raised still has to be decided, added McFarland. “I think logistically, when you think of the amount of money that is going to be involved, it’s not going to mean every riding, or every town and village that’s going to see one of these facilities pop up. It represents millions of dollars, but it also takes millions of dollars to build a complex. From my point of view in all likelihood, it’s going to be more than likely where larger centres are involved and more people.” Any new accommodations built through capital bond funds are expected to become operational beginning in 2012. Projects are to be determined based on priorities across the province. Alberta Capital Bonds are expected to be available for purchase from financial institutions and investment advisors by late-February. |