Chair, thanks very much. I appreciate the question.
You're right. This subsumes a piece that was in Bill C-17—a really critical piece of funding for our members' transit systems that continue to face shortfalls due to the pandemic. It's taking much longer than I think we'd all hoped to get back to the ridership levels we had ahead of the pandemic.
On this question of integrating transit and housing, we're seeing it across different types of interventions and programs. It's really critical that we do that right, that we think about how to develop our cities and transit-oriented development as a strategy, for example, linking housing and transit.
As it relates to this funding, the core intention here is to support transit systems and municipalities with those pandemic shortfalls. The way I read the intention from Finance Canada is to make sure that, as this funding is delivered, provinces and territories are working with their municipalities to talk about housing supply and about having an integrated vision to tackle that challenge. We welcome that.
As I said, it's work that we're doing with Infrastructure Canada on programs, with CMHC for sure, across both transit and housing, in an integrated fashion. We look forward to that work continuing.