North Bay, ON – May 29, 2023 – The results were released today of a KPMG study reviewing the feasibility of a potential transition of Cassellholme Home for the Aged to a municipal home maintained by the Corporation of the City of North Bay.
The findings of the feasibility study were presented to North Bay City Council Monday during a Special Committee Meeting by Oscar Poloni, Partner in KPMG's Sudbury Office.
Commissioned by the City in May of 2022, the study was a condition set out by the council of the day of its approval of North Bay’s share of the financing for the Cassellholme redevelopment project now 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.
Council heard from Mr. 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 will remain at the committee level pending a staff report and recommendations to Council.