Thank you, Madam Chair. The consequences would be, as the Minister points out, that there would be a demand for lots which are greater than the supply of lots that are available. The department is also, through the review of municipal legislation, looking at trying to create the opportunities for municipalities to borrow for land development projects. The major municipalities presently can borrow and finance their land development projects through borrowing. That ability is not available to hamlets such as Rankin Inlet at this point, but is an area that is under some consideration in the municipal legislative review, which would offer another opportunity to finance land development projects. Without that ability for an alternative source of revenue to develop land, it would force the creation of a deficit, in terms of the lots required, and people would need to wait until the land became available for their purpose. Thank you, Madam Chair.
Mr. Christensen on Bill 11: Appropriation Act, 1996-97
In the Legislative Assembly on May 24th, 1996. See this statement in context.
Bill 11: Appropriation Act, 1996-97
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
May 23rd, 1996
Page 638
Christensen
See context to find out what was said next.