Thank you, Madam Chair.
Thank you very much, all of you, for coming in.
I appreciate the job it must be to manage all the properties. I have had some experience with building and with owning properties, so I know some of the issues. Mine were only matters of hundreds of thousands of dollars. Yours, on the other hand, are far more expensive.
I guess this would be a question for Public Works. In making your assessment as to whether a building should be purchased or leased over the long term, there are a number of assumptions that have to be made by the government or by Public Works. Those assumptions include, obviously, where inflation might take us as we look toward what the following five-year or ten-year leases will look like. When looking at purchasing a building, there also has to be a future value forecast, the idea that these buildings will be worth something.
I'm curious as to how you make those assessments. Has it been your experience that the assessments made in the past have been correct when those time periods are finished? And are the forecasted appraisals differentiated across the country? That would be my first question.