Fort Erie feeling financial impact of COVID-19 to the tune of $500,000
Fort Erie is financially feeling the impact of COVID-19 closures, as the town predicts an operating deficit of around half a million dollars.
Council received a report showing the potential financial impacts of the pandemic is estimated at $469,435 to June 30, 2020.
The Mayor of Fort Erie Wayne Redekop says while it won't be easy they will do their best to mitigate any financial impact on residents.
The total operating deficit could increase to $669,280 by December 31, 2020, if the current situation remains unchanged.
“Over a number of years, successive town councils and staff have been working together to help secure Fort Erie’s finances and to ensure flexibility during emergencies like COVID-19. We are collaborating with all levels of government in order to develop strategies that mitigate financial impact as much as possible to as many people as possible but it’s not going to be easy. The local, national and global economic impact of COVID-19 will be unlike anything we’ve seen before; however, I’m confident that we’ll be able to work together to find the right solution,” says Mayor Wayne Redekop.