Thank you, Madam Speaker. The priority we have put in -- and it's a very high priority -- is any dollars that we can save, we would like to save. The problem we have right now -- and I'm presently negotiating that with CMHC -- is out of every dollar we do save, we give 50 cents back to CMHC because everything is cost-shared, or is it 75 cents? So there is no great advantage at this time to cut O and M funding into the communities or to try to save money because CMHC takes it back and then their plan is to reallocate it throughout Canada. Our initial evaluation of the situation, across Canada, you might be able to save approximately $20 million in O and M funding and if you redistribute that according to need across Canada, we'd get back around a hundred and some thousand dollars. So, it would ultimately mean that we lost money. We are presently negotiating that with CMHC, that any cost-savings we can incur through O and M, we'd like to continue to keep and put back into social housing. We are in those negotiations now, thank you.
Don Morin on Question 14-12(5): Housing Corporations Financial Difficulties Minimized By Community Associations And Authorities
In the Legislative Assembly on December 13th, 1993. See this statement in context.
Return To Question 14-12(5): Housing Corporations Financial Difficulties Minimized By Community Associations And Authorities
Question 14-12(5): Housing Corporations Financial Difficulties Minimized By Community Associations And Authorities
Item 5: Oral Questions
December 12th, 1993
Page 11
Don Morin Tu Nedhe
See context to find out what was said next.