An explanation

Dear sir:
We are responding to Mr. York’s recent letter to the editor (Aug. 15 Fort Frances Times) with respect to the following:
River Walk is a non-profit condominium housing project being developed under the sponsorship of Fort Frances Non-Profit Innovative Housing Inc., (“Non-profit”). Non-profit is responding to a local demand for suitable senior’s type housing that the private sector to date, has been unable to provide.
The brochures, pamphlets, plans, and consultants referred to in Mr. York’s letter have to date been funded by a private sector company, namely Penn-Co Construction Ltd., (“Penn-Co”), on a good faith basis.
Good Faith being that Penn-Co will provide the seed money to assist Non-Profit in bringing this project to financial do-ability, providing that the local community under the auspices of Non-Profit lends it the support it needs.
There are no development profits being charged to this project other than direct costs incurred in this process, and they can only be recovered by Penn-Co from a contract to construct. Non-profit will have the right to tender the Project to the lowest bidder.
The Town of Fort Frances has NOT purchased the land for Phase One of this project. Non-Profit has obtained in good faith option from the Vendor; good faith meaning that the Vendor is receiving nothing for his land until the project is financed and under construction.
It is understandable that a resident residing next door to the project as contemplated would prefer to have the land left vacant. It’s referred to as “NIMBY”, meaning not in my back yard.
Except for some very minor variations the land for this project is zoned for use, and servicing costs associated with the project will be adequately covered by the additional property taxes levied against the market value of this project.
The cost of providing essential services to a multi-residential project such as this one is far lower than it would be to provide those same services to the same number of separate single-family dwellings. The writer is not qualified to comment on the status of central services except to say that the geography of this proposed development is favourable.
Yours respectfully,
Robert K. Froese
On behalf of
Penn-Co Construction Ltd.