The normal ratio or mix for leased and then owned assets usually is about 60-40. You have 40 per cent where you own it — you have your core business and you control the space — and you have the rest of your portfolio on the lease side. In Inuvik we have 93 per cent leased, 7 per cent that we own. The 7 per cent that we own is 30 to 40 years old and in a state of decrepitude, as the Minister of Public Works has articulated clearly. We have a portfolio in Inuvik that is overbalanced and limits our ability to have our core services in buildings we own and control. It’s an issue, which is one of the reasons we’re coming forward with the proposal to build as opposed to lease.
Michael Miltenberger on Committee Motion 83-16(2) Deferral Of Consideration Of Education And Culture Activity In Education, Culture And Employment Capital Estimates (Td 93-16(2)) (Committee Motion Carried)
In the Legislative Assembly on October 20th, 2008. See this statement in context.
Committee Motion 83-16(2) Deferral Of Consideration Of Education And Culture Activity In Education, Culture And Employment Capital Estimates (Td 93-16(2)) (Committee Motion Carried)
Consideration in Committee of the Whole of Bills and Other Matters
October 19th, 2008
See context to find out what was said next.