Thank you, Mr. Chairman. To answer the Member's question, there is a repayment required on the Independent Housing Program. The difference between it and the Expanded Down Payment Assistance Program is we hold the mortgage on the Independent Housing Program because the amounts...it would be borrowing a lot less from the bank and it really is not worth it for the banks to get into that. We had enough trouble selling the banks and CMHC on allowing us to go to a 70 percent down payment form of assistance. We are still holding those mortgages, but there is repayment on those to us.
Mr. Murray on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 20th, 1998. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 19th, 1998
Page 984
Murray
See context to find out what was said next.