Thank you very much, Chair.
I thank the witnesses as well for being here and for the work they not only have done here but that they continue to do for us across the board.
During this study, we have heard from many, if not most, witnesses that the administrative burden of existing housing programs can be a significant barrier to accessing them. This can be particularly challenging for smaller organizations that don't necessarily have the resources to take on the workload of tackling that burden, and we know bureaucratic red tape is an added cost for the delivery of a program.
Your report has identified some of the administrative costs incurred by existing housing programs. I have noted some significant numbers in your report, including that about 10% of ESDC's total expenses for assisted housing programs are for operating expenses, and that community organizations, through the Reaching Home program, can use up to 15% of the funds they receive for their own administrative costs.
When it comes to CMHC's rental construction financing initiative, the RCFI, and the national housing co-investment fund, the report breaks it down a bit further and estimates that an average administrative cost per single application exceeds $300,000.
I wonder if you could give us some more insight as to how that per application cost was assessed, what specific administrative costs were included in that average, and who incurred those administrative costs. Was it CMHC and the applicant?