Thank you. This was one of the items that we discussed in Finding the Right Balance: Option For Changing Land Development Practices. In there we are talking about credit for previous lease payments. What we are saying is that for existing lots, previous lease payments made on a lot could be credited against the correct replacement costs, historic replacement costs or standard lot price in an equity lease. For example, if a leasee has made lease payments for ten years on a $15,000 lot, $2,500 would be discounted. That is ten years times $250, leaving $12,500 outstanding without interest. The outstanding balance is based on cost minus previous lease payments so there are options. The hamlet and the communities set the price on those lots. That is the option that they can look at. It is not that we are saying everybody has to pay a certain price, whether they are on old lots or on new lots. The hamlet sets the price of lots, not the government. Thank you, Mr. Speaker.
Manitok Thompson on Question 513-13(4): Land Development And Pricing Policies
In the Legislative Assembly on June 2nd, 1997. See this statement in context.
Further Return To Question 513-13(4): Land Development And Pricing Policies
Question 513-13(4): Land Development And Pricing Policies
Item 6: Oral Questions
June 1st, 1997
Page 1247
Manitok Thompson Aivilik
See context to find out what was said next.