Thank you, Mr.
Chairman. I am pleased to present the
Northwest Territories Housing Corporation’s Main Estimates for the fiscal year 2008–2009, for the total contribution of $52.512 million. This is an increase of 2.3 per cent from the 2007–2008 Main Estimates.
Including other revenue sources the corporation will spend approximately $120 million on housing in the Northwest Territories this year. This funding includes contributions from the Government of Canada under the final year of the Northern Housing Trust. Through 2008–2009 the NWT Housing Corporation is planning a substantial housing delivery program to help address the housing needs of our residents.
Through our Capital Acquisition Plan the corporation will invest over $38 million in our housing stock. This includes $35 million to construct 174 housing units in communities across the Northwest Territories, as well as $3.4 million in major modernization and improvement projects to upgrade existing rental housing stock. The units to be constructed include 76 public housing replacement units and 98 home ownership units to be delivered to clients through the Housing Choices program.
The Housing Corporation also plans to invest $844,000 in minor modernization and improvements to our rental stock through our local housing organizations and has set aside $1.669 million to fund home ownership repair and renovation programs. These projects will be completed through the NWT Housing Corporation’s Contributing Assistance for Repairs and Enhancements program, which is an element of Housing Choices, as well as through federal renovation programs such as the Residential Rehabilitation Assistance Program.
The Housing Corporation remains committed to meeting the housing needs of our residents. While our construction and renovation work is the most significant activity we are undertaking, there are several other efforts underway to improve corporate performance and ensure that our mandate is met through strategic planning and policy control.
Through our new plan, Framework for Action, 2008–2011, we are charting a course for future corporate activities in pursuit of our mandate to provide affordable, adequate and suitable housing for residents of the Northwest Territories.
Other important efforts include a corporate reorganization designed to improve the support we provide to regional offices and LHOs and to make strategic planning and policy a more integrated component of our business.
As with all departments and agencies the corporation identified specific target reduction options for consideration in light of the GNWT’s current fiscal situation. This goal has been achieved with only a $100,000 reduction to our $38 million capital acquisition plan during the final year of the Affordable Housing Initiative.
Our ability to continue with this ambitious delivery plan is due to both the federal government’s investment to the Northern Housing Trust along with the commitment of this government and Members of the Legislative Assembly to match this contribution.
While federal support for new construction beyond this year is uncertain, I’m hopeful that this Assembly will see fit to continue our investment in new housing into the future.
With that in mind, during the upcoming year the Housing Corporation will develop a new housing construction strategy that, through a combination of new construction and maintenance and repair activities, will address core need, expand home ownership repair assistance and alleviate some of the infrastructure deficit in public housing.
Mr. Chair, as mentioned, our capital plan for this year will total $38
million. Nearly half of our
$38
million capital plan is funded through the
Government of Canada’s Northern Housing Trust. This funding along with the federal funding for renovation and repair, as well as homelessness funding provided directly by the federal government to community groups, will lapse as of March 31, 2009. As of today the federal government has made no commitments to extend funding for affordable housing programs past this date, and CMHC’s social housing funding continues to decline rapidly, leading to its eventual end in 2038.
While the GNWT’s fiscal situation is a cause for concern, it should be noted that the cumulative
shortfall of social housing funding between now and 2038 is over $300 million. Without renewed federal support and a continuing commitment by this government to make investments in housing, the future of our housing programs and services will be in jeopardy.
That concludes my opening remarks. At this time I’d be pleased to answer any questions the committee may have. Thank you, Mr. Chairman.