At our January meeting, Council decided to sell the Elizabeth Gardens and Monash Gardens aged care facilities and the Monash Gardens retirement village to experienced not-for-profit aged care provider, Royal Freemasons.
This is a great outcome for the residents and staff at the facilities.
After an exhaustive seven month process, Council decided to sell because Royal Freemasons will be able to provide better care and services into the future compared to what Council currently provides. If we did not have confidence that this was so, we would not have sold – it is as simple as that.
Royal Freemasons was selected through a rigorous and competitive process because they demonstrated they would offer the best possible care for residents. Importantly, Royal Freemasons is a not-for-profit organisation which has been caring for older Victorians continuously since 1867 – almost 150 years. Council has deep conviction that Royal Freemasons will provide the best possible aged care into the future – and will be able to offer an enhanced level of care to what Council would be able to offer.
Royal Freemasons is committed to operating at the sites for the long term and has indicated they intend to invest further in the facilities. This is beyond what Council would have been able to do had we maintained our operations.
Saving ratepayers more than $1 million per year
While our decision to sell has been made on the basis of securing the best quality of care for residents, our decision also has significant financial benefits for all Monash ratepayers.
As well as the expected net sale proceeds of $14.5 million, ratepayers will save more than $1 million every year in operating costs as these facilities have been incurring significant financial losses for some time.
This means that as well as residents at the facilities receiving the highest quality care possible into the future, Monash ratepayers will also save millions of dollars at the same time. This is a win-win outcome if ever I have seen one.
Making the tough decisions
This was a tough decision and it provoked significant community interest.
However, unquestionably it was the right thing to do. By selling to a not-for-profit provider with an impeccable 150 year track record, we have achieved a win for everyone. The 165 residents at the homes are now better off because they pay nothing extra, receive more services and both facilities will continue into the long term. And Monash ratepayers are now more than $1 million better off every year.
For more information, the facts and a comparison between Council and Royal Freemasons, click here.
UPDATE October 2014: When talking to those who were most opposed initially to a sale, it is pleasing they now agree this is the best outcome.
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