Wednesday, March 10, 2010

Sauble Clinic Needs Guarantor

There is audio for this story. click to open MP3 version  or click the play button to listen now.

South Bruce Peninsula
by Peggy O'Neill    

The Town of South Bruce Peninsula is looking at being a guarantor for a 1.1 million dollar mortgage for the Sauble Beach Medical Clinic.

But the Chair of the clinic and former Mayor of the Town is upset about roadblocks.

The Committee of the Whole last week supported a resolution to make the town a guarantor of the mortgage.

But municipal lawyers need to draw up the agreement -- and Council did not have the necessary information at last  night's meeting.

Council received other information from their lawyer that was not on the agenda and did not receive approval from members to add it to the agenda.

The Chair of the Sauble Beach Medical Clinic Carl Noble is upset Council has taken two and a half months to decide whether if they want to be the guarantors.

Currently Noble and nine other people are holding the just over 1 million dollar mortgage.

Noble says they came up with the money on their own because that's what they had to do to get the building completed.

Noble says now they have a mortgage being offered by a bank -- and if the town acts as a guarantor they will be able to amortize the mortgage over a longer period of time and they will save money on the interest rate.

Noble claims they have been wasting money waiting for the town to make a decision.

He says it is difficult to do anything for the town because they keep putting stumbling blocks in the way.