In fairness to the honourable Member, I used the number to demonstrate the leverage between three and five times the money to show that it could, in fact, theoretically, bring a $250 million mortgage investment corporation to the table. In the presentation that was done by Mr. Grossman to the Standing Committee on Finance, the Member is correct. It was significantly less. I believe we had indicated that if we could seed this to the total of $5 million and perhaps look at external and northern money to bring it into a $25 million pot, then from there we would lever it three to five times. So, the comments yesterday were mainly to illustrate how we could lever this particular investment corporation at three to five times, and I apologize if it has confused the Member. Thank you.
John Todd on Question 249-12(5): Status Of Mortgage Investment Corporation
In the Legislative Assembly on March 2nd, 1994. See this statement in context.
Further Return To Question 249-12(5): Status Of Mortgage Investment Corporation
Question 249-12(5): Status Of Mortgage Investment Corporation
Item 5: Oral Questions
March 1st, 1994
Page 472
John Todd Keewatin Central
See context to find out what was said next.