Thank you, Mr. Chair. On page 381, I note that the funding for the North Slave district has decreased by $466,000, and I'm wondering, I guess, why and how money is allocated among districts? Thank you.
Debates of March 7th, 2019
This is page numbers 5255 - 5298 of the Hansard for the 18th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was housing. View the webstream of the day's session.
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Alfred Moses Inuvik Boot Lake
Thank you, Mr. Chair. Mr. Martin is our finance guy. He'll probably explain this a little bit clearer than I can, and I'll just go through you, Mr. Chair, to Mr. Martin. Thank you.
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Martin
Thank you, Mr. Chairman. There were a couple of factors here that contributed to the $464,000 decrease from the previous mains for North Slave district. The first factor related to the new home program. When you look at the grants and contributions section of this activity, you will note that there has been a decline in the three-year funding allocation for 2019-2020 compared to 2018-2019 for the new home program. That explains that component. Then, there was also an adjustment of $166,000 related to amortization. The Housing Corporation updated its amortization estimates and reflected a reduction and projection for next year of $166,000. Those two factors contribute to the $464,000 decrease. Thank you, Mr. Chairman.
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Julie Green Yellowknife Centre
Thank you, Mr. Chair. Thank you to the witness for that explanation. Of this money that is coming to the territories through the new bilateral agreement, with all the caveats we've previously heard about, how much of this money is going to be allocated to the North Slave? Thank you.
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Martin
Thank you, Mr. Chairman. Under the bilateral agreement, the Housing Corporation is anticipating receiving about $1.9 million in a home ownership investment opportunity for 2019-2020. For the North Slave district, there will be a similar allocation here of about $320,000. Thank you, Mr. Chair.
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Julie Green Yellowknife Centre
Thank you, Mr. Chair. I appreciate that information. On what basis was the decision made to allocate $320,000 to the North Slave, of the total available? Thank you.
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Martin
Thank you, Mr. Chairman. The funds associated with the new home program, for example, are based on a projected level of support under that program. Right now, as indicated, we're estimating about $300,000. However, that could change following the review of applicants under that program. You could have a situation, for example, where there are more dollars allocated to the North Slave at the end of the day. Thank you, Mr. Chair.
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Julie Green Yellowknife Centre
Thank you, Mr. Chair. What is it that would then trigger an increase? What is it about the review of applicants that would trigger an increase? Thank you.
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Martin
Thank you, Mr. Chairman. Right now, the Housing Corporation is undertaking a review of the new home program applicants, has already approved two, and has an outlook to approve, as indicated, another additional three to five, potentially next year, for other districts or across all districts, ultimately. This is based on assessed applicants, so we could have a situation where, for next year, we may not have approved applicants for the North Slave, for example. It really depends on the intake and the eligibility of the applicants. Thank you, Mr. Chairman.
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The Chair R.J. Simpson
Thank you. NWT Housing Corporation, programs and district operations, operations expenditure summary, $31,760,000. Does committee agree?
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Some Hon. Members
Agreed.
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Julie Green Yellowknife Centre
Thank you, Mr. Chair. I have a question that relates to page 370, which is an information item. It's a revenue summary item. What I understand here is that the Government of the Northwest Territories is providing less money and the CMHC is providing less money to the Housing Corporation in the next fiscal year, to the tune of about $10 million. Just for clarification, this is even after the new bilateral agreement has been taken into consideration. Is that correct?
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