Thank you very much, Mr. Chair.
I am delighted to join your committee for today.
My first question goes to CMHC.
For CMHC's insured loans of new constructions and acquisitions, CMHC must be satisfied that a property has achieved a projected rent level in order to achieve a loan beyond 70% to 75%. Do these rental achievement requirements need a minimum amount of rent to be met, based on the amount of the loan?