Wednesday, February 8, 2012

No Bank Loan for Capital Projects Needed


There will be no need for long-term financing to help pay for capital projects in Fort Frances this year.

Town councillors shaved another $230-thousand dollars off the capital budget during their talks Monday.

The rest of the $4.5 million in projects will be paid out of reserves or grants.

The town will use up about $800-thousand from reserves, but a proposed tax increase would return $750-thousand back into those funds.