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Regional Council approves interest free loan for Cambridge Shelter Corporation

The loan will not exceed $750,000
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bridges
BridgesWaterloo.com

The Cambridge Shelter Corporation is getting some help from the region.

The Region of Waterloo's commnuity services committee has approved an interest-free loan for them, one they say will not exceed $750,000.

There's no word on how large the debt is for the Bridges, or how they got to this point.

But Sharon Livingstone, Interim Chair of The Board of the Cambridge Shelter Corporation, says in the past the three months, they've reviewed all their policies and principles to ensure it doesn't happen again.

"We'll engage in extensive education as board members, so that can enact and report our civic responsibilities to those individuals in need."

Livingstone says she hopes it will ensure the long-term viability and success of the Bridges.

"Typically, we raise 22 per cent of our annual budget through donations and fundraising," she said, "So we'll continue to do that.  And in addition, we're hoping we'll attract back some of our donors who have left us over the past couple of years."

The ask comes after Cambridge Shelter Corporation has had a switch in management with changes in the executive director position.
 

With files from Evan Taylor




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