The first offering to Albertans investing in the province’s new capital bond initiative will help increase access to accommodations for Alberta’s seniors.
Funds generated through Alberta Capital Bonds will help build accommodations for Alberta’s seniors who require some assistance in daily tasks and decision-making, and will include long-term care and supportive living facilities, lodges or group homes.
The new accommodations for seniors built through capital bond funds are expected to become operational beginning in 2012. Projects will be determined based on priorities across the province. Seniors and Community Supports and Health and Wellness will identify their top priorities and the Alberta Capital Bonds investments will be made in communities with the greatest need.
Alberta Capital Bonds are expected to be available for purchase from financial institutions and investment advisors mid-February 2010. Final details, including interest rates, will be provided closer to the time the bonds are issued.
The Government of Alberta has a clear plan for a strong economic recovery. The Way Forward will bring Alberta back into a surplus position in three years by trimming government spending; using cash reserves to protect key programs; continuing to invest in public infrastructure; and ensuring that our province's industries are competitive and continue to attract investment to provide jobs and prosperity.
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