Yes, Madam Chair. Madam Chair, I am pleased to present the Northwest Territories Housing Corporation main estimates for the fiscal year 2006-2007 for a total contribution of $26.828 million.

This is an increase of 2.4 percent from the 2005-2006 main estimates. Including other revenue sources, the corporation will spend over $120 million on housing in the Northwest Territories this year. This funding includes contributions from our federal partner, the Canadian Mortgage and Housing Corporation.

During 2006-2007, the NWT Housing Corporation is planning a significant increase in our housing delivery to help address the housing needs of our residents. The corporation will invest $32.896 million to construct 185 housing units in communities across the NWT. Included in this allocation are 73 public housing replacement units and 112 homeownership units under the Supported Lease Program to assist families to become successful homeowners. This ambitious plan is subject to continued support from the federal government in the amount of $50 million over two years.

The Housing Corporation also plans to invest $10.439 million in modernizing and upgrading our rental stock through our local housing organizations and we have set aside $4.448 million to fund emergency and other repair programs, and various seniors' programs such as the seniors/disabled preventative maintenance program and the Senior Citizens' Home Repair Program.

The Housing Corporation is committed to meeting the targets set out in Motion 21-15(3) passed by this Legislature. The 185 units planned for delivery this year, along with those planned for next year, will put us on target to reduce core need by 10 percent by 2007. Investments made during the life of this Assembly have made a positive impact, but much work remains.

As you are aware, during the past year, the corporation has been involved in redefining its mandate. MLAs have expressed concerns about the level of involvement of stakeholders in this process. I have heard these concerns very clearly. As a result, a consultation process with MLAs, LHOs, community leaders and other stakeholders will occur over the next few months. Following this process, we will return to standing committee with the results of the consultation for their review.

The corporation made significant progress in its efforts to lobby the federal government during 2005. As Members may be aware, the federal government made significant commitments to deliver new affordable housing in the NWT prior to the election call. However, the election of a new government has caused a delay in the formal approval of those commitments until a new federal Cabinet is formed. We intend to resume discussions with the Honourable Diane Finley as soon as possible.

That concludes my opening remarks. At this time, I would be pleased to answer any questions the committee members may have. Thank you, Madam Chair.