FINANCIAL_SERVICESPENDING

County of Grande Prairie Special Council Meeting Agenda May 2026

County considers loan guarantee for Maskwa Medical Center

Up to $5,836,825 (portion of $23,347,283 construction loan); existing $3,500,000 direct capital loan previously advancedVillage of HytheMASKWA MEDICAL CENTER (CANADA) INCMay 15, 2026

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Description

The County of Grande Prairie is considering Bylaw #3268 to guarantee up to $5,836,825 of a $23.3 million construction loan to Maskwa Medical Center (Canada) Inc. for a new medical facility, in addition to an existing $3.5 million direct loan. The guarantee would backstop a short-term construction facility at an interest rate capped at 8% and would terminate upon long-term take-out financing, repayment, or by March 31, 2028.

Contract Details

Contract Amount

Up to $5,836,825 (portion of $23,347,283 construction loan); existing $3,500,000 direct capital loan previously advanced

Vendor

MASKWA MEDICAL CENTER (CANADA) INC

Agency

Village of Hythe, Canada

Contract Type

FINANCIAL_SERVICES

Document Date

May 15, 2026

Contract Term

Construction loan term up to 22 months; guarantee terminates no later than March 31, 2028 or upon take-out financing or repayment on demand

Renewal Date

2028-03-31

Renewal Info

Guarantee under the Master Guarantee Agreement automatically terminates upon execution of take-out financing, repayment of the construction loan, or by March 31, 2028, whichever occurs first; no renewal terms are contemplated.

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