Thank you, Mr. Speaker. Mr. Speaker, if someone can buy a home these days for $130,000, I think they got themselves a good deal. The majority of the costs associated with Novel, $77 million of that is land development costs which, again, is not associated with the affordable housing program. The biggest cost associated is land development. These lots and whatnot have to be developed in communities. We have to ensure that the infrastructure is there to handle it by way of power poles, roads and the other infrastructure it needs, but, more importantly, there is going to be a project management cost associated with this project which is not in the affordable housing program. Right now, it is administered through our office by way of tenders. There is also a $22 million financial arrangement where we have to finance at the front end to develop these lots so that when Novel does come on stream, we are ready for them. Again, there is a difference between these programs. We had a presentation to committee this morning. We have laid it out. We tried to explain it the best we can. Again, there are still some concerns out there. Again, this program is not completed. We are still in the process of evolving to a time and place where we will have to make a final decision on this and see exactly how the numbers come out and exactly what the difference is between the cost of the Affordable Housing Strategy and Novel. Right now, Novel is coming in at cheaper costs than the cost of stick-built today. Thank you.
David Krutko on Question 19-15(5): Costs Of Novel Housing Project
In the Legislative Assembly on June 1st, 2006. See this statement in context.
Further Return To Question 19-15(5): Costs Of Novel Housing Project
Question 19-15(5): Costs Of Novel Housing Project
Item 7: Oral Questions
May 31st, 2006
Page 61
See context to find out what was said next.