Thank you, Mr. Chairman. This year 23 percent has been cut and a further 36 percent will be cut in 1993. This year we have managed to find money from within to do what we said we were going to do. We start delivering our programs for this year, last fall. We are informed of this, in
March, and we finally decipher the information C.M.H.C. gives us, in February, after many phone calls and letters. What does the three percent cap on gross mean? That is what it means, there is a $22 million cut.
They have a different way of explaining it. It will be in effect, we will be funded next year from C.M.H.C., cost shared funded for 153 units, that will be it.