The Pines Retirement Home has received a gift of US$1 million from the Maples Foundation, part of the Maples and Calder group.
The money will go towards assisting with renovation and redevelopment works in the aftermath of Hurricane Ivan.
The first instalment of US$250,000 was handed over Wednesday with other instalments to come over a two- year period.
Collecting the cheque from Maples and Calder partner Julian Reddyhough was Pines Assistant Manager Christine Daum.
Mr. Reddyhough, chairman of the Pines, said, ‘I am delighted that Maples had been able to assist the Pines in this meaningful way.
‘The home’s original buildings were badly damaged during Hurricane Ivan and although we were very fairly treated by our insurers, Cayman General Insurance Co. Ltd, we are taking this opportunity to expand and upgrade our facilities,’ he said.
‘I would stress that the donation from Maples is earmarked for our building project. At an operational level we still run at a loss.
‘That means that residents fees and government grants do not cover our day-to-day expenses and we continue to depend on the generosity of our various benefactors to make ends meet.’