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Consultants helping the town of Fort Frances with its an asset management plan have put forward a financial strategy intended to help with its capital requirements.
Public Service Digest finds the town short $4.2 million to what’s needed annual.
Consultant Matthew Smith proposes annual tax increases of 1.4 per cent for the next twenty years to ensure funding for tax-fund assets like roads, bridges, social housing and fleet.
There would also be a need for an additional 1.2 per cent increases in both sewer and water rates for the next fifteen years.
Smith told council it’s not something they need to do right away.
“You’re going to be visiting this on a regular basis. You’re not stuck with this number. It’s not something that you have to take today and move forward. Reevaluate this, certainly, through the approach the province is taking with asset management planning,” says Smith.
Mayor June Caul does see the asset management strategy having merit.
“By doing this now we are going to be making ourselves much, much better in the future. Maybe not when we’re still on council but we will be helping of councillors in the future to better access and decide on how much money is needed. Eventually that amount that we have sitting on our shoulders right now will diminish as the years go on,” says Caul.
Council took no official action on the recommendations presented at this time.