During a special committee meeting of North Bay City Council, its members learned the findings of a feasibility study regarding the potential transition of Cassellholme Home for the Aged to a municipal home maintained by the Corporation of the City of North Bay.
See related: City of North Bay could take over Cassellholme in latest proposal to move redevelopment forward
The results were released following an in-camera session on Monday by way of a KPMG study presented by Oscar Poloni, a partner in the firm's Sudbury office.
Council heard from Poloni that transitioning to a municipal home would provide North Bay full authority over governance, but that there would be a number of potential risks associated with the City becoming the sole operator of Cassellholme. This includes added annual costs associated with assuming the levy contributions of Cassellholme’s eight other member municipalities, as well as potential future added costs related to operating pressures.
The feasibility study was commissioned by the City of North Bay in May 2022 and was a condition set out by the council of the day as part of its approval of North Bay’s share of the financing for the $122-million Cassellholme redevelopment project that is now underway.
See: Cassellholme redevelopment officially underway
The study was aimed at reviewing the potential transitioning of Cassellholme from a territorial district home established and maintained under a board of management to a municipal home to be maintained by the Corporation of the City of North Bay.
As part of its analysis, KPMG looked at information provided by the City and Cassellholme, including financial statements and annual reports, financial forecasts, capital redevelopment information, financing agreements and in-person discussions.
The feasibility study will remain at the committee level pending a staff report and recommendations to North Bay City Council.
