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A Saskatoon care home for at-risk single mothers has kept 21 children out of foster care in the last two years, an independent auditor has found.

Sweet Dreams opened in 2014, becoming the first project in Canada to be funded by a social impact bond funding model. Under that model, private investors fronted the money and will be reimbursed by the provincial government in 2019 if at least 17 children of supported mothers are kept out of foster care.

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Regina-based Conexus Credit Union gave $500,000 to the project, as did Saskatoon couple Wally and Colleen Mah. The home is operated by EGADZ.

Since the shelter opened, the provincial, federal and municipal governments have pledged funds to expand it, including to build a 22-space childcare centre attached to the home. That is expected to open in early 2017.