Thank you, Mr. Speaker. $20.1 million a year. That is the amount of money we provide every year to Northview, more than we spend on community water and sewer services. According to Northview's own 2020 prospectus, the funds, they own approximately 50 percent of the rental market in Yellowknife. 50 percent of our town, Mr. Speaker, is owned by one company and we are their single largest landlord. You think this might be a problem we would like to address. However, Mr. Speaker, during the life of this Assembly, that number has grown every single year as we add more and more office space to one landlord. And, Mr. Speaker, this is not a hard problem to solve. Step one, remove them from BIP. They no longer need to be a BIP'd company, Mr. Speaker. This company is a pinnacle of everything that is wrong with GNWT procurement.
It started in the '80s by a former deputy minister who went and got a handful of sole source contracts from the government and made themselves rich. And here we are continuing to line the pockets of now southern and foreign billionaires, Mr. Speaker.
Second, change the leasing of improved real property, which has not seen any change since 1998 and is, in fact, the policy that is responsible for growing this company. Follow our own policies conduct a lease to own analysis of all of our buildings.
Third, commit to publicly tendering all of our leases. You can trace many of our leases back all the way to 1998 when they were originally sole sourced. They have not been tendered in any meaningful way since. Many we inherited from the feds on devolution and we did not publicly tender them.
Finish the procurement review, Mr. Speaker. We have spent three and a half years reviewing procurement and not one penny that has gone out this door has changed with regards to procurement because we will not finish this review, Mr. Speaker.
Secondly, let's approach some local developers and some local people with this $20 million a year we spend and get a little creative. See if someone will build us some buildings, build us some housing, anything other than giving this money to Northview. I'll have questions for the Minister of Infrastructure on whether she is going to accomplish anything at all in regards to this. Thank you, Mr. Speaker.