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www.dentistoakville.com 905-842-6030 HALTON TRANSMISSION 559 SPEERS ROAD, UNIT #3 (905) 842-0725 547 Trafalgar Rd. 905-845-7579 2212 Wyecroft Rd. 905-847-2595 www.carstaroakville.com A member of Metroland Media Group Ltd. Vol. 48 No. 110 USING COMMUNICATION TO BUILD BETTER COMMUNITIES THURSDAY, SEPTEMBER 23, 2010 Beaver Trails Travel 32 Pages $1.00 (plus tax) All tied up MICHAEL IVANIN / SPECIAL TO THE BEAVER KNOTTY EVENT: Tyler Paris, centre, with help from his team, tries to make a human knot during Friend Fest Day at St Ignatius of Loyola Secondary School last week. The festival is designed to wel- come new Grade 9 students to the school. For more photos, see page 5. By David Lea OAKVILLE BEAVER STAFF It was floated as a possible funding source for the new Oakville hospital, however, the revenue from last Januarys Blink Communications sale hasnt been designat- ed for the Towns local share commitment just yet. Council announced Monday that the Town has received a total of $40 million from the sale of Blink, a data-focused telecom services provider. Blink was a subsidiary of Oakville Hydro, which is owned by the Town. In a report to council, the Towns Commissioner of Corporate Services and Treasurer Gord Lalonde said Rogers Communications paid a total of $130 million for Blink. However, after taxes this total is projected to drop to $105 million. He also pointed out that part of these pro- ceeds have been designated for hydro proj- ects such as a transformer station, smart meters, an integrated energy system for the new Oakville hospital and solar energy devel- opment. At the end of the day, Oakville Hydro rec- ommended the Town receive a special divi- dend of $40 million. During Mondays council meeting, coun- cil voted to accept this $40 million and establish a reserve fund. Interest generated by investing the $40 million will be used to make up for the reduced hydro dividend resulting from the sale of Blink. Future plans for the $40 million beyond that have yet to be finalized. Members of council, including Oakville Mayor Rob Burton, previously discussed the possibility of using the proceeds from the Blink sale to help pay for the $200 million commitment the Town has made for the building of the new Oakville hospital. Under the Towns payment plan, $130 million will be paid when the hospital opens at the Third Line and Dundas Street location in 2015, another $40 million will be paid Towns share of $130-M Blink sale is $40M See Towns page 3 www.brantfl orist.com/ob 905.639.7001 SNA NEWSPAPER OF THE YEAR 2010 ONTARIOS TOP NEWSPAPER - 2005-2008