November 2, 2023 News

Ontario Infrastructure Bank

Statement from CEO Donna Duncan

In response to announcement on the Ontario Infrastructure Bank:

“The Ontario Long Term Care Association and its member homes applaud the Ontario government for creating the Ontario Infrastructure Bank and for the inclusion of long-term care homes as an initial priority area for investment.

Ontario’s long-term care homes (LTC) are a vital form of housing for vulnerable older adults, providing homes for seniors with specialized needs to live comfortably and with dignity. One in five seniors over the age of 80 have complex care needs that can only be supported in long-term care homes.

The Ontario government has made historic investments and significant commitments to support the construction of new long-term care homes and to rebuild old homes to new standards. With 67 projects approved through the latest capital program, good progress is being made.

The Ontario Infrastructure Bank will help long-term care homes access affordable financing for construction so they can continue to make progress on the government’s commitment to build more than 58,000 new and upgraded long-term care beds across the province.

The OLTCA looks forward to working with the bank and government on how to structure the lending program so homes are supported toward providing the housing and care that seniors need, including in urban and rural communities facing unique LTC re/development challenges.”