Return to Written Question 8-13(4) asked by Mr. Erasmus to the Minister responsible for the NWT Housing Corporation concerning capital expenditures and revenues.
1. The 1996/1997 capital expenditures for the Housing Corporation were $64,470,000:
a. GNWT Capital 46,870,000
b. CMHC Capital 6,500,000
c. CMHC Remote Housing 11,100,000
Total Capital Expenditures 64,470,000
2. The NWTHC received $11.1 Million from CMHC (Canadian Mortgage and Housing Corporation) for the Remote Housing Initiative in 1996/97.
3. The NWT Housing Corporation will not have to return any funding to CMHC as a result of not proceeding with the Rent Scale increases that were slated for this spring.
4. Further implementation of the rent scale for April 1, 1997 will be deferred for one year only. this will allow the NWT Housing Corporation time to analyses the impact of the implementation so far. It will also provide time for the review of all government subsidies to seniors, now underway. As well, the Rent Rebate Program will also be extended for one more year.
5. Over the first three years the projected revenue generated by the new rent scale will be $6 million dollars, over the old scale. Without the phase in, the new rent scale's projected revenue would have been $15 million over the same period. the new rent scale was implemented two years ago, therefore the second and third year results are projected since year two of the phase in is still under way and all of the figures have yet to be collected.