Thank you, Mr. Chairman. The Housing Corporation does not have a stand-alone market disruption policy, but rather inside each of the programs we have a policy indicating which communities this specific program can be delivered in. An example is if we are delivering the Independent Housing Program. The NWT Housing Corporation funds the capital on that 100 percent and then carries the mortgage for a minimum mortgage up to $350 annually.

We decided that in market communities where individuals are capable of getting bank loans, the Housing Corporation is in a better position then to leverage the money and provide more funding to the communities across the Territories by going into market communities and leveraging our money, as opposed to providing outright 100 percent capital grants to construct a unit.

As an example, a $160,000 unit in Rae Lakes is the only option to address a core need issue, whereas in Yellowknife it may be $40,000 and allow the individual to leverage the rest of the money in order to address their core need issue. Therefore, we have expanded the amount of social housing dollars that we can provide to the Territories. In the last four years since we have had the Expanded Down Payment Assistance Program, we have been able to leverage $27 million in private financing with the program.