Thank you, Mr. Speaker. In the last Assembly, Mr. Speaker, we had a Special Committee on the Northern Economy. I would like to point out that the current federal Minister of Finance, when he visited the city while we were doing that debate, read the report of our committee and said it was one of the best analyses of economic problems and one of the best proposals for solutions that he had ever read, which is great praise coming from such an individual. One of the problems that we identified was capital. There have been some proposals by Ministers to raise capital. I would like to ask Mr. Todd, the Minister who indicated he would like to develop a Mortgage Investment Corporation, whether in fact negotiations are still taking place to attract capital into the Northwest Territories in the form of mortgages so that we can build houses.
Question 97-12(7): Capital From Mic For Construction Of Houses
In the Legislative Assembly on February 17th, 1995. See this topic in context.
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
Brian Lewis Yellowknife Centre
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
February 16th, 1995
Page 161
The Speaker Samuel Gargan
Minister of Economic Development and Tourism, Mr. Todd.
Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
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John Todd Keewatin Central
Thank you, Mr. Speaker. Yes, the second phase of the strategic plan to determine whether a Mortgage Investment Corporation would be feasible and viable in the Northwest Territories is under way at this time. Thank you.
Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
The Speaker Samuel Gargan
Thank you. Supplementary, Mr. Lewis.
Supplementary To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
Brian Lewis Yellowknife Centre
Thank you, Mr. Speaker. I would like to ask the Minister, how much money have we spent to date on this work that is being undertaken by some very excellent consultants? Thank you.
Supplementary To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
The Speaker Samuel Gargan
Mr. Todd.
Further Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
John Todd Keewatin Central
I believe when they initially made their first presentation, in terms of what they thought the overall costs would be to do the work necessary to put a Mortgage Investment Corporation in place, they were somewhere around $700,000 or $800,000. I stand to be corrected, but I think it was somewhere in that area.
To date, I believe, we've expended or are expending at this time close to $250,000. Thank you.
Further Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
The Speaker Samuel Gargan
Thank you. Mr. Lewis, supplementary.
Supplementary To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
Brian Lewis Yellowknife Centre
Thank you, Mr. Speaker. I would like to ask the Minister, by what date does he expect this work to be completed?
Supplementary To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
The Speaker Samuel Gargan
Mr. Todd.
Further Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
John Todd Keewatin Central
Thank you, Mr. Speaker. At this phase of the plan, it should be complete by March 31, 1995. Thank you.
Further Return To Question 97-12(7): Capital From Mic For Construction Of Houses
Question 97-12(7): Capital From Mic For Construction Of Houses
Item 6: Oral Questions
Page 161
The Speaker Samuel Gargan
Thank you. Item 6, oral questions. Mr. Patterson.