Thank you, Mr. Chairman. CMHC's O and M contribution to the Housing Corporation is provided under contractual agreements. Some of them end in the year 2030. While these agreements are legal partnership arrangements, we do not take them for granted. Corporation finance officials are continually monitoring these agreements and the financial situation in Ottawa with CMHC. We'll constantly do lobbying in the south to make sure they don't undercut our agreements.

On February 27th, I received a letter from the Honourable David Dingwall, Minister of CMHC, to confirm the federal government's commitment to continue supporting these agreements. That takes care of the agreements, but there are other ways of cutting it, possibly. For example, we've already seen the new rent scale driven by CMHC saying you either do this or this is what you lose. We will continue to work with them to try to convince them of the special needs in the Northwest Territories. Even though we lost $47 million, we haven't been hit as hard as other jurisdictions in this country.