Floyd Roland

I thank the Member for that clarification. In a forward looking position with PPA signed, with energy flowing, with the dividend being paid, and that’s how we would be able to do it. Right now through our Power Corporation, for example, we received a dividend to help offset our Territorial Power Support Program. We could use those funds as a dividend and target it towards alternative energies and enhancing that throughout the Northwest Territories. That is a possibility that we could do that as a shareholder in this partnership and draw down that cash and use it for things of that nature.

The development assessment report that went in for environmental review is the business case to model we have used. They have asked for alternate routes. That information was provided. There has been an acceptance that that is the area that makes the best-case scenario for us. The adjustments that are being looked at are the result of the recent hearings that were held.

If Members want to see this change, then we would have to pull it back. There would be a full additional review done. That would delay anything there. That would run out of additional years of mine life. In some cases some of...

Thank you, Mr. Speaker. I seek unanimous consent to proceed with first reading of Bill 6, Supplementary Appropriation Act (Infrastructure Expenditures), No. 2, 2010-2011.

Thank you, Mr. Speaker. I think those benefits in a number of ways are felt throughout our communities. For example, the IBAs that are signed with the mines to do that. More importantly, through the contracts that the mining companies have in a number of our communities, through the growth of our communities, because we have new residents who moved into our communities and bought homes.

It was not too long ago when we looked in our communities and Hay River would be one of those where the housing market wasn’t as strong, has now turned around and is healthy. I wish I could say the same in a...

Thank you, Mr. Speaker. There is no contradiction. There is, in fact, if the Government of the Northwest Territories wants or this Assembly wants to see alternate routes, this Assembly would have to come up with money to afford that, because, as I had stated, this project has been built on the business case, not offsets from the Government of the Northwest Territories, no subsidies, purely on a business case of the ratepayer being, in this case, the diamond mines. If they don’t sign onto this and make it feasible, then there is no project.

The developer’s assessment report that’s been filed...

Thank you, Mr. Speaker. I give notice that on Friday, March 26, 2010, I will move that Bill 6, Supplementary Appropriation Act (Infrastructure Expenditures), No. 2, 2010-2011, be read for the first time.

Since the start of this, the concept of this has been put together. It’s been, I believe, and I’ll have to double check the information, but I believe it’s in the neighbourhood of $13 million of investment since the previous government into the life of this government. Thank you.

The process with the lenders, one, has unfortunately gone the track it has. Where we felt we had some flexibility, we came forward and requested the $15 million in our last sitting. We got that approval and then we were informed by the lenders that they are requesting us to assume the debt. With that in mind, that has now put us into this scenario. When it comes to repayment, the repayment structure is in place. If we want to repay earlier, there is going to be a penalty. We’d have to weigh those.

At some point, as I was speaking earlier to the markets that are out there on real bonds in that...

Thank you, Mr. Chairman. From the projections and the schedule that was attached to the concession agreement, after five years I believe we’d be looking at $155 million.

As this scenario developed and as we went to Members highlighting the concerns that we had, by not taking any action there would be immediate impact on the Government of the Northwest Territories when it comes to our debt wall. By taking the steps we have and getting confirmation from the federal Minister of Finance, Minister Flaherty, to work with us in dealing with this debt around this project short-term relief we’ve been able to work through this scenario where there will not be an immediate impact.

As I was responding earlier to Member Bromley, there would be an impact in a sense of our...