Thank you, Mr. Chair. I am pleased to present the 2022-2023 Main Estimates for the Northwest Territories Housing Corporation.
Overall, the Corporation's estimate proposes an annual operating budget of $121 million, representing an increase of $2.84 million over the 2021-2022 Main Estimates. These estimates support the mandate objectives for the Northwest Territories Housing Corporation while continuing to meet the GNWT's fiscal objectives to prioritize responsibility and strategic spending.
Highlights of this proposed estimate include the following:
- 1.1 million of forced growth funding from the Government of the Northwest Territories. This includes an initial allocation of $947,000 to provide operating funding for the first year's delivery of federal cost sharing housing units as well as
- 164,000 for property tax increase for existing housing inventory across the Northwest Territories;
- 752,000 of on-going initiative funding from the Government of the Northwest Territories for the new Hay River and Fort Simpson homeless shelters;
- 882,000 from the Government of the Northwest Territories for collective agreement increase; and
- 68,000 travel budget reduction as part of the GNWT-wide reduction.
These estimates continue to support the priorities of the 19th Legislative Assembly:
- Fostering strategic partnerships, including these with the federal and Indigenous governments to increase the number of affordable homes and reduce core housing needs, especially for seniors and vulnerable persons;
- Reducing the cost of power by investing in energy efficiency solutions for both new construction and repairs; and
- Delivering increased opportunities for homeownership.
This concludes my opening remarks, Mr. Chair. Mahsi.