Thank you, Mr. Chairman. As indicated by the Minister, our agreement with CMHC is to decline to zero dollars by 2038 and it starts to decline next year, in fact, in some of the communities and gradually goes down until there is no more funding in that specific agreement with CMHC which pays for the operating or a portion of the operating of the 2,200 public housing units we have across the Territory.

This year, the corporation was able to sign an affordable housing agreement with CMHC for $7.5 million that will be used over the next four years to make housing affordable in the Northwest Territories with that money for a ten-year period. We are hoping as the Northwest Territories Housing Corporation continues discussions with Canada Mortgage and Housing Corporation more of these types of agreements will be put in place to replace the declining dollar, but at the same time, the corporation continues to discuss with CMHC the concept of leaving the social housing dollar agreements in place after the mortgages have been paid off and the funding was supposed to decline.