Capital Reserve Emergency Looming

The well is running dry for the Dryden Municipal Non-Profit Housing Corporation.
Chair Peter Keen says the capital reserve fund will be gone in four years and they will be faced with a deficit situation.
Dryden has seven non-profit housing units.
Keen says its a $450-million dollar problem across Ontario and most of the rental units are more than 30-years-old.
The Corporation expects to have to make a request for funding of $194,000 to the Kenora District Services Board in 2015.
Keen warns that money will have to come from local taxpayers or the Provincial Government.
Keen is asking City Council to raise this issue with other municipalities in the region, regional municipal organizations and the Provincial Government before it becomes an emergency.