Thank you, Mr. Chairman. The northern territorial rental/purchase program will provide tenants of those northern rental units built prior to 1975 the opportunity to purchase those units at a reasonable price. The corporation will determine the selling price of the unit. It is based on the original construction cost, the age, land cost, and improvements made to the unit. But it is supposed to be a reasonable price because every unit is different. If the unit is in worse condition than another, it is supposed to be cheaper.

If the Member has some specific concerns, we will be happy to address them because this program is supposed to assist people to get into their own homes. They are older units, and the key here is that they are supposed to be reasonably priced. If they are not, I would surely like to hear about it.