Thank you, Mr. Speaker. Mr. Speaker, I would like to reply to an oral question which was asked by Mrs. Groenewegen on January 29th to the Premier, but it has to do with my portfolio and so I have the information on the Lahm Ridge Tower lease agreement.

Mr. Speaker, when an agreement was reached on the extension provisions on the Lahm Ridge lease, the Department of Public Works and Services was aware that the owner was attempting to negotiate a sale to 974102 NWT Limited. The department was aware of the names of the owners of the new company.

With regard to the assignment of the lease, it is important to emphasize that the assignment is an instrument which permits the sellers of the building to transfer the existing lease to the buyer. The role of the GNWT at that point is to approve the assignment if the buyer complies with the terms and conditions of the assigned lease. In the case of the Lahm Ridge Tower, the department assessed the assignment, determined that the document did not violate the existing provisions of the lease and, therefore, agreed to it. Although the assignment was agreed to by the department prior to the date of the sale, it took effect on the date the new owner took possession of the building. In this case the effective date was November 1, 1997. Mahsi, Mr. Speaker.