Mr. Speaker, when we developed our strategic plan, Building for the Future, residents told us that we needed to examine our home ownership programs and

recognize the different role that home ownership plays in non-market communities, than it plays in market communities and that changes were needed to our programs to make them more effective.

Mr. Speaker, as part of our actions related to the strategic plan, we will be making significant changes to Providing Assistance for Territorial Homeownership, our main home ownership subsidy program. The changes include the way we determine subsidy levels, expands the eligible pool of clients, and significantly closes the gap between the cost of home ownership and public housing.

Our subsidy approach will use the same zone approach to group communities as is used for the public housing rent scales. Subsidies will be higher in communities with higher cost of living. To use an example, an eligible household in Fort Good Hope would be able to purchase a new home for about $140,000 after receiving a subsidy under PATH. This would mean the client would have approximately $1,500 in monthly shelter costs. This is very similar to the maximum rent charged for public housing clients.

The approach to the subsidy will be different in market communities. Housing supply and development is much different in these communities, and risks and benefits related to home ownership are different than in non-market communities.

In market communities the program will focus on helping first time homeowners and will provide support to young families and others that want to move from the rental market to become homeowners.

We will also be expanding our eligibility criteria for PATH. While the program will continue to focus on those most in need, some support will be provided to households that have income levels somewhat higher than our current income thresholds. This will mean that, for example, a household in Lutselk’e earning up to approximately $95,000 in annual income will be eligible for the full subsidy and households between $95,000 and about $145,000 will be eligible to receive 50 percent of the subsidy.

Finally, in support of the 17th Legislative Assembly’s

priority to sell public housing stock, we will introduce the Public Housing Purchase Program. This program will provide up to $25,000 in

additional support for tenants of public housing units that want to purchase their unit. The NWT Housing Corporation will be proactive in making tenants aware of this opportunity.

These program changes will take effect early in the upcoming fiscal year. Communications materials are being developed and we look forward to continuing to work with residents in partnership to help them meet their housing needs.

Mr. Speaker, these changes will help address housing needs, as directed by the priorities of the 17th Legislative Assembly, and will support strong

individuals, families and communities.Thank you, Mr. Speaker.