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Finance Department
Report
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Report To: General Government Committee
Date of Meeting: April 15, 2019
Report Number: FND-011-19 Resolution: GG -221-19
File Number: By-law Number:
Report Subject: Gift Agreement with Bowmanville Hospital Foundation
Recommendations:
1. That Report FND-011-19 be received;
2. That the Mayor and Municipal Clerk be authorized to sign the Gift Agreement with the
Bowmanville Hospital Foundation on behalf of the Municipality; and
3. That all interested parties listed in Report FND-011-19 and any delegations be advised
of Council's decision.
Municipality of Clarington
Report FND-011-19
Report Overview
Page 2
During the 2019 Budget, Council committed to providing future funding to the Bowmanville
Hospital Foundation for the expansion of the Bowmanville Hospital. This agreement
formalizes this commitment and sets a sunset clause if the project does not occur.
1. Background
1.1 During the 2019 Budget, Council approved a financial commitment to Bowmanville
Hospital Foundation towards the expansion project at the Bowmanville Hospital site.
1.2 The attached Gift Agreement formalizes the commitment that the Municipality has made
and ensures that there is a paper trail for this contribution.
1.3 The agreement stipulates that the funds will be provided to the Bowmanville Hospital
Foundation upon substantial completion of the final phase of the Project.
1.4 There is a 10 year expiry clause for the gift agreement. If the project is not substantially
completed by April 2029 there is no obligation on the part of the Municipality to provide
funding for the Project.
2. Concurrence
This report has been reviewed by the Municipal Solicitor who concurs with the
recommendations.
3. Conclusion
It is respectfully recommended that the Mayor and Municipal Clerk be authorized to sign
the Gift Agreement to formalize Council's commitment to Bowmanville Hospital
Foundation.
4. Strategic Plan Application
Not applicable.
Submitted by: Reviewed by:
Trevor Pinn, B.Com, CPA, CA, Andrew C. Allison, B. Comm, LL.B
Director of Finance/Treasurer CAO
Staff Contact: Trevor Pinn, B.Com, CPA, CA, Director of Finance / Treasurer, 905-623-3379
ext. 2603 or tpinn@clarington.net
Attachment #1 — Gift Agreement Between Lakeridge Health and the Municipality of Clarington
List of interested parties to be notified of Council's decision is on file in the Finance
Department.
Lakeridge
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Bowmanville Hospital Foundation.
In acceptance of this Agreement, the authorized officers of the parties hereto append their
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The Bowmanville Hospital Foundation 147 Liberty Street South I Bowmanville, ON I L1 C 2N4
(905) 623-3331 X 1880