Thank you, Madam Chair. I am here to present the 2020-2021 Main Estimates for the Northwest Territories Housing Corporation. Overall, the corporation's estimates propose an increase of $5.3 million or 5.1 percent over the 2019-2020 Main Estimates. These estimates support our fiscal objectives to prioritize responsibilities and strategic spending while matching the modest expected revenue growth over the coming year.
The proposed estimates include approximately $4.2 million of additional spending that will support a range of priority investments to promote housing partnerships, home ownership opportunities, and the preservation of the corporation's existing public housing stock. These strategic investments include additional funding for the multi-year community housing plans initiative, increases to the community housing support initiative program, the new home program, the Securing Assistance for Emergency program, the seniors aging in place program and the fuel tank replacement program.
In addition, the corporation is allocating additional funding to support a range of priority preservation investments for the corporation's existing public housing stock, including additional repairs funding for local housing organizations, funding for the demolition of surplus units, and addressing the continued decline in Canada Mortgage and Housing Corporation funding for social program operations.
Also included in the 2020-2021 Main Estimates is an additional $1.4 million of incremental forced growth funding for collective bargaining increases, supporting both the corporation and the local housing organizations. These estimates continue to support the priorities of the 19th Legislative Assembly by:
- fostering strategic partnerships, including those with the federal and Indigenous governments, to deliver additional affordable housing for our residents, especially seniors and vulnerable persons;
- investing in energy-efficient solutions for both new construction and repairs;
- delivering increasing opportunities for home ownership; and
- expanding educational resources and supports for homeowners.
That concludes my opening remarks. Thank you.