Dryden Council Asked to Assist in Seniors Complex

Dryden Council is being asked to provide a loan just shy of $3-million
in order to help individuals commit to the proposed Lifelease Seniors Complex.
Mike McAuley has been working with the Board in attracting tenants and
says the problem is they are asking potential residents to put up their
share of the $100,000 down-payment roughly 15-months prior to construction.
McAuley is asking the City to provide bridge financing and cover 70% of the down-payment for each resident.
The tenants would be required to pay the City back when moving into the
4-storey complex located south of the Hospital.
Council will vote on the loan next Monday but most appear to be on
board with the plan.